AFTER 2019
LUMKILE MONDI: Populism and cronyism SA’s big hurdles
What policies can the new leadership adopt after the 2019 election to take SA from resilience to long-term inclusive and sustainable growth?
President Jacob Zuma has completely disregarded the significance of macroeconomic economic policy, believing that just as the ANC will self-correct, so too will the economy. This is simply economic mismanagement. Who can forget the statement by the water and sanitation minister that "Makahambe" (Pravin Gordhan must go) and "Irandi malingawa sizolidobha!" (should the rand fall, we shall pick it up!)? The dismal economic performance and mismanagement of the Zuma presidency — or should I say the Zuma Moment — is one of unfulfilled promises. The 1-million jobs he promised are nowhere. Instead, there are now 6.21-million unemployed South Africans. Over 30-million South Africans live in poverty, and inequality has widened. SA is expected to grow just 0.5% in 2017. These facts are not fake. In a month’s time the ANC will elect new leaders, who will inherit a stagnant economy, with the debt ratio approaching 60% of GDP, the budget deficit at 5.1% and a credit rating below investment grade. ...
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