SIKONATHI MANTSHANTSHA: Faster we go into the abyss
Ethiopia, Africa’s second-most populous nation, is planning for GDP growth of 10.8% for the fiscal year ending June 2020. SA, on the other hand, is on course to report another economic recession
Ethiopia, Africa’s second-most populous nation, is planning for GDP growth of 10.8% for the fiscal year ending June 2020. Last year it grew 9%, the National Bank of Ethiopia said in January. To achieve its growth targets, Ethiopia will change course and do things it has never done before: by June it will have sold at least six of Ethiopian Sugar Corp’s plants to private sector players that include local farmers. More state-owned assets across industries will be sold this year.
SA, on the other hand, is on course to report another economic recession when Stats SA releases the numbers for the last quarter of 2019. In the third quarter the economy shrank 0.6%, adding to the 6.7-million unemployed people on our sunny shores. That represents an official unemployment rate of 29.1%. Of course, the real jobless rate for the period was 38.5%...
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