SOUTH AFRICAN ECONOMY THREAT: A DEEP SERIOUS CRISIS
Then recent sequences of protest in Gauteng and around the country including the attacks on non-south Africans, in particular, the businesses and the lootings as well as the violent nature of these protest; the daylight robbing of businesses and people, the burning of the businesses, homes, and infrastructure and people is a superb way of Gautrain-i ng further unemployment in the country and segregation from the continent.
The latest unemployment stats from STATS-SA the previous (second) quarter has revealed that over four hundred thousand layoffs have increased the number of unemployed to almost 30%. This is the highest we have been and South Africa is one of the countries with the highest unemployment rate in the world.
The release of the devastating unemployment, stats prompted President Ramaphosa to describe the current unemployment as a “Deep and serious crisis.”
While the government is battling to come to terms and to deal with the unemployment numbers.
The hub of economic activities is swimming in a spade of protest, these protest if not well managed will plunge the country onto a downgrade by the rating agencies and ultimately sending us into a RECESSION and really nailing the poor into more and more poverty for days without end. Even though our economy picked up 3.1% in the second quarter of 2019, we just narrowly
escaped a recession, well economist are still cautioning that this does not mean we are out of the woods yet.
The National Development Plan dedicated an aspiration that by 2030, 90% of jobs to be created by small, medium and micro enterprises (SMMES). This would level into a competitive plane progressive economies that are dedicated to managing and proactively addressing unemployment. And for our country, the success of this ambition will deal decisively with poverty and inequality in our communities.
The question we need to ask is; how will the NDP vision be achieved? When the splurge of violent protests are burning businesses and looting the very Small Businesses that are meant to absorb the many unemployed of which some are the very protesting looters. What has become of our beloved country?