By Alec Hogg
After two successive quarters of economic contraction, South Africa is now officially the worst performing economy on earth. And, technically, in a recession while most everywhere else enjoys steady improvement. But that has been well publicised. What you may well have missed is it comes on top of an already awful 2017.
Of the 43 countries tracked by The Economist, SA’s 0.7% GDP growth rate last year was higher than just three others – scandal wracked Brazil (0.6%); oil affected Saudi Arabia (-0.6%) and the socialist disaster called Venezuela (-7%).
And the reaction of SA’s politicians? If the info is bad, stop it. Because if you don’t see it , perhaps it’s not there. Biznews’s resident economist John Maynard tells us the stats community is up in arms because the budget of SA’s national statistical services has been slashed by 15%. Talk about shooting the messenger.
