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There are two competing narratives in SA today. The first is that the government has essentially made all the main reforms business has asked for, the economy is more resilient and recovering faster than initially thought, and it’s just a matter of time before confidence returns and growth really responds.

The second holds that reform has been slow and ineffectual, and progress too little too late. What’s more, it is being undone by regression in many other areas. Unless there is a sea change, SA will be neither fiscally nor socially sustainable over the longer term.         ..

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