THE 2016 municipal elections were held against the backdrop of challenging economic conditions in the country. This has amplified the interconnections between politics and economic fortunes.The latest forecast from the Reserve Bank has the country recording 0% growth in 2016 and only 1.5% in 2017 and 1.7% in 2018. Economic growth has been depressed for a while, with SA struggling to bounce back from the 2007-08 financial crisis-induced slowdown.As a result of low economic growth and subdued growth in tax revenue, SA’s public purse has come under pressure. At the same time the country faces the danger of a credit risk downgrade by international credit rating agencies, which would have been watching these elections closely.Economic growth is imperative for SA. It will help alleviate the country’s unemployment problem and will increase tax revenue for the government.Local elections 2016News, live results and much moreIt has been known for a while that major policy shifts are required t...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.