• Caught in the debt trap?

    Help us help you by taking our second annual Debt survey and you could win R3 000.

  • Rich man, poor man

    Culture change from below is the only way to overcome poverty, says Leopold Scholtz.

  • Tech bubble talk

    After the tech euphoria of 2013, the fast-moving sector has hit a speed bump.

Data provided by McGregor BFA
All data is delayed
Loading...
See More

US paper sounds alarm over SA economy

Oct 16 2012 08:30 Sapa
newspaper_computer

Shutterstock

Related Articles

Gordhan 'surprised' by ratings cut

S&P cuts SA’s foreign currency rating

Zuma to host dialogue on the economy

Strikes won't perturb UK investors

OPINION: The coming financial collapse and how to plan for it

Cabinet: Strikes tarnish SA's image

 

Johannesburg - The Wall Street Journal has published an article painting a bleak picture of South Africa's economy, saying labour unrest has caused its economic growth to fall behind other African states.

"The unrest is exposing a stark reality - South Africa is falling behind, even in Africa," read the Wall Street Journal article, published on its website on Friday.

The article said Rwanda, which had 800 000 people killed in the same year the ANC took power, had managed to achieve annual economic growth near 8% since 2004, more than double South Africa's 3.7% growth rate during the same period.

It said that when Zambia held its democratic elections in 1991, it scrapped nationalisation, but South Africa "is debating nationalisation and other ways to intervene in the mining sector".

Countrywide strikes coupled with unemployment and income disparity were posing a grave challenge to the ruling party, read the Wall Street Journal article.

Brazil's economy had grown around the same pace as South Africa's but its income disparity had diminished, it added.

 
mining unrest  |  sa economy  |  transport strike  |  gdp
NEXT ON FIN24X

 
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
57 comments
Comments have been closed for this article.
 

Company Snapshot

We're Talking About: Small Business

Standard Bank is looking for 12 entrepreneurs to participate in a 10-part TV series. They could win a R1m investment into their dream.
 
 

Tight security in Manenberg for Mthethwa

There has been a heavy police presence in the gang hotspot of Manenberg in Cape Town ahead of the arrival of Police Minister Nathi Mthethwa.

 
 

Latest elections multimedia

Watch what happened when we blindfolded Helen Zille and asked her to eat random things
13 days to elections - news you need to know
11 Julius Malema quotes you'll never forget
DA won't get 30% - Zille

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...
Loading...