The future for the South African economy
The strikes that played off in South Africa the last couple of months certainly did not do South Africa any good as the future now looks unstable with many investors withdrawing and losing confidence in South Africa. Although South Africa is facing troubled economic conditions, such as cutting on growth rates, South Africa is still on a better foot than some other developing and African countries.
South Africa currently faces increased budget deficits, and a credit downgrade but on the other hand South Africa also performed well in the financing sector through tough global economic times.
South Africa’s rich natural resource endownments gives us the benefit of the doubt, and gives hope to future economic growth recovery. South Africa won’t get any worse, and through implementing appropriate measures, policies and effecient governing, the country will have more positive results than negative.