Seven sobering articles on SA's economic crisis
Top writers identify key issues facing the economy while we count the cost of the surprise recession
1. Recession turns up heat on Cyril Ramaphosa In his Business Day column, Anthony Butler writes that President Cyril Ramaphosa will now have to make good on his foreign investment promises as there is little fiscal room to move: SA’s descent into a technical recession has come as a blow to President Cyril Ramaphosa’s economic hopes. Given limited fiscal space, heavily indebted parastatals and a nervous private sector, Ramaphosa will now need to make good on his promises with regard to foreign direct investment.
He will come under heavy pressure to conjure up some good news at the investment conference scheduled for October. Ramaphosa initially claimed the tidy sum of about $100bn in new investment would be raised over five years. The investment drive has become the signature theme of Ramaphosa’s tenure in the Union Buildings. He has sought out investment partners on the African continent, in the Middle East, across the global South, and among the countries of the Organisation ...