CLAIRE BISSEKER: Economic windfalls and political disasters still very much with us
SA will next year have to battle a global slowdown, waning commodity boom, load-shedding and political uncertainty
13 December 2022 - 05:00
In the 1940s economic historian and professor CW de Kiewiet famously said that SA progresses through “economic windfalls and political disasters”. This seems as apt a description of SA’s condition today as it was then.
Over the past year the country has enjoyed the economic windfall of the commodity boom, thanks partly to the Ukraine war. This has buoyed company profits and resulted in a dramatic improvement in our fiscal position, helping reduce government borrowing and stabilise the country’s credit ratings...
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