CAROL PATON: Why the ANC NEC meeting could be good for SA
Political strife will bring economic turmoil, but ultimately what is bad for the ANC could turn out well for the country. Carol Paton explains why
This column is free to read for today. To read opinion, analysis, commentary and breaking news like this everyday, subscribe to BusinessLIVE The outcome of its weekend national executive committee (NEC) meeting is bad for the ANC but good for the country. It is now time to vote the ANC out of power. Holding onto Jacob Zuma as president of the party and head of state should hasten that process. But the ANC faces a turbulent period between now and the 2019 election. This means the country will also face political ructions, given the dominance of the ANC over political life. Political strife like this won’t be good for the economy. We can expect a new populist economic policy to emerge from the June policy conference. The structural reforms that the Treasury has promised SA and investors, and other outstanding police issues, have no hope of being implemented or resolved. Economic growth will remain constrained. Given all of this, further credit ratings downgrades are sure to follow. ...