Picture: THE HERALD/MIKE HOLMES
Picture: THE HERALD/MIKE HOLMES

It’s been a crucial week in the political economy of the buggered and beloved country, with the ANC president appearing before the state-capture commission, defending his party’s disastrous cadre deployment policies, offering platitudes of governance reform, while allowing a critical 30-day step aside deadline to deal with corruption to slip by while his now rogue secretary-general gives the middle finger.

And public-sector unions are now gearing up for a fight with the government and taxpayers, who pay the bloated wage bill, as they demand above-inflation increases while the country’s debt to GDP ratio soars towards 100%.

Both events challenge the reform narrative, which is a critical bellwether for much-needed business confidence. This while the world’s largest economy is recovering at breakneck speed. US GDP increased at a 6.4% annualised rate last quarter.  The biggest first-quarter increase in growth since 1984.

To review the week that was, Michael Avery is joined by Warwick Lucas, chief investment officer at Galileo Asset Managers; and Raymond Parsons, professor at the School of Business and Governance at North West University.

Michael Avery and guests review the political economy during the last week as the president appeared before the Zondo Commission

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