BHEKI NTSHALINTSHALI: Cosatu sheds some light on its novel plans to save Eskom
A comprehensive public audit of all Eskom contracts and expenditure should be instituted, including coal supply contracts
The SA economy is facing its worse crisis since 2008, with the rate of unemployment sitting at 38% and rising. Growth in GDP has barely reached 1% recently, and there are 600,000 new job-seekers annually. The public national debt is sitting at R3-trillion, some of which is denominated in dollars or other foreign currencies.
The last and only ratings agency that has shown some level of sympathy and tolerance for our economic situation, Moody’s Investors Service, will likely downgrade SA in February if no plan to deal with Eskom and grow the economy is presented. A downgrading will be a devastating blow to workers, the economy and the state, and will make our economic recovery much harder and more prolonged...