THE SMART NEWS SOURCE | Feb 10 2012 16:53 | LAST UPDATED Feb 10 2012 16:53 |
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Busa: Tough road ahead for SA economyThe road ahead for the South African economy remains "tough", Business Unity South Africa (Busa) said in Johannesburg on Wednesday. Jobs blood bathOne million jobs lost this year and a million more in jeopardy by end of 2010. Cosatu calls for overhaul of SA economyCosatu said on Wednesday it wanted a total overhaul of the economy and favoured a rand exchange rate of about 10 to the dollar. Who holds the purse strings?Despite the confident mini-budget, confusion persists over how South Africa's economy will be managed, and by whom. Fragile recoverySouth Africa has a few hurdles to clear if it wants to be part of the global economic revival, writes Lynley Donnelly. The new currencyAs blacks consolidated their political power after 1994, whites fortified their position in the economic sector. In defence of African leadershipThe SA economy was developed with forced cheap labour, mainly Africans and the other oppressed communities classified as Indian and coloured. Gordhan: Fiscal deficit will be 'considerably' higherSA's fiscal deficit will be considerably higher this financial year due to a widening tax shortfall, Finance Minister Pravin Gordhan said on Tuesday. Slowdown slowsBut consumers are running scared, writes Lynley Donnelly. Strikes, wage hikes may weigh on SA economyAn annual round of strikes and inflationary pay hikes could not have come at a worse time for a strained South African economy. |
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