BY SONGEZO ZIBI-
IF THE economic statistics released last week told us anything, it is that the first quarter of this year represented a ferocious smack of reality across the nation’s face. Gross domestic product (GDP) shrank 0.6% while producer price inflation breached 8%.
Last week’s round of bad news followed earlier news that unemployment remained above 25% in the narrow definition, but in reality more than 36% of South Africans who should be working aren’t able to find jobs. Among the angry and disaffected young people, the numbers are much worse.
This occurred while politicians were criss crossing the country making a long list of promises, just about all of which rely on superb economic performance. They made sweeping statements about how they would deliver the Utopia we all desire.
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