Thus wailed South Africa’s Democratic Alliance (DA) party – “Jacob Zuma is playing Russian Roulette with our economy.”
DA was reacting to Moody’s decision to review state-owned entities (SOE) investment grade status.
The party charged that the decision must serve as a wake-up call for South Africa.
Insinuating that the government ought to take Moody’s review serious, the opposition party asserted that President Zuma must urgently be moved far away from managing SOE’s.
“We simply cannot trust Jacob Zuma – who has presided over a weakening economy, state capture, and numerous corruption scandals – to turn our SOE’s around and ensure confidence is restored.
The bottom line is that Jacob Zuma is playing Russian Roulette with our economy, and the millions of jobs that depend on it. Job creation is too important to gamble with,” DA stated.
DA cry came with a 2016 Economic Freedom ranking of the world which showed that South Africa has steadily lost ground in enabling the economic freedom of South Africans.
Mzansi, among the 159 countries the 2016 report captured, nosedived from its 93rd position in 2015, to 105th.
In 2000, South Africa was ranked just outside the top 25% of countries in the world. Its position was 42nd in the global Economic Freedom ranking.
Sadly, it has steadily slumped by 63 places in the 15 years to rock the 35% bottom section of the ranking.
Howbeit, the South African government vowed to deepening existing bilateral economic relations to boost economic growth.
The International Relations and Cooperation Deputy Minister Luwellyn Landers related this few days ago.
Landers said: “we are confident that our resolve to deepen existing bilateral economic relations and to explore more trade and investment opportunities will contribute towards increased Foreign Direct Investment (FDI).
This is particularly important at a time when the general economic climate is very constricted,” added the Deputy Minister.