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| Africa Subsaharan |
| South Africa's economy 'in crisis' |
| 2016-02-25 |
| h/t Gates of Vienna The South African economy is 'in crisis' says the country's finance minister Pravin Gordhan. The comments came ahead of his Budget speech, in which he cut the country's growth forecast for 2016 to 0.9%, down from 1.7%. He conceded the economy was struggling with shrinking growth, 25% unemployment, and widespread poverty. The South African currency, the rand, which has halved over the past five years, fell after the speech. It dropped 2.25% to make one rand worth around $0.0639. |
| Posted by:g(r)omgoru |
| #2 Moar SUBMARINES! |
| Posted by: SteveS 2016-02-25 13:18 |
| #1 Gordham's solution sounds vaguely familiar. Senator Bernie Sanders to the white courtesy phone please, Bernie Sanders: Pravin Gordhan, South Africa's finance minister, right, sits beside Jacob Zuma, South Africa's president, left, before delivering his 2016 budget speech to parliament in Cape Town, South Africa, on Wednesday, Feb. 24, 2016. Gordhan stuck to a pledge to bring down the budget deficit, targeting civil-servant jobs and increasing wealth taxes to stave off a credit-rating downgrade to junk. Link |
| Posted by: Besoeker 2016-02-25 11:05 |