According to new reports, while rains are helping the country recover from a 2015 drought that was the worst since records started more than a century earlier, political uncertainty has prevented the implementation of some government reforms aimed at boosting growth.
President Jacob Zuma changed his cabinet and fired Pravin Gordhan as finance minister in March, a move that saw the nation lose its investment-grade status with two ratings companies for the first time in 17 years.
“There is a risk that these contractions are not over and we could see another negative coming out in the second quarter of this year,” Annabel Bishop, a South African chief economist says
Read the full report here https://www.bloomberg.com/news/articles/2017-06-06/south-africa-sees-second-recession-in-8-years-as-economy-shrinks
11 comments:
That bad?
... Merited happiness
that is what south africa gets for electing a man that did not even finish the equivalent of JSS 3 in south africa. the man is an illiterate that knows nothing aout running a country.
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They were xenophobic and thinking that their country is heaven, and now this happened. All Nigerians there should come back oh. No place like home.
They were xenophobic and thinking that their country is heaven, and now this happened. All Nigerians there should come back oh. No place like home.
They're lucky to operate DSTV & MTN Naija
Zuma is incompetent. Still South Africa's 'recession' is still like Nigeria's Eldorado/Nirvana. Sad.
NIGERIA IS WORST
What you get when you chase igbo niggas from south.... I was in south you need to see what this fools did to us. Forgetting that we d igbos dere are the main business muguls there. Pay back is a bitch..... Long Live Ala igbo ninee. We are born to progress no mater d hash conditions.
Just like Nigeria they have a President with no brain. The tiny brain Zumba has is in his prick, hence all the wives and concubines. He's so busy with them, no time to this about matters of state
Same old issue with Black African leaders. They always crumble the economy
when they are here GULPING every naira in n=Nigeria, what d'u expect?
And they won't let hardworking Nigerians help them invest in their own country rather they prefer xenophobic acts out of envy and jealousy!
Lazy folks!
-D great anonymous now as Vivian Reginalds
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