ANC has ‘agreed’ to cut unemployment to 14%

Staff Writer | Jun 08, 2019
The governing party has ‘agreed to reduce unemployment from 27% to 14% within the next five years’.

African National Congress (ANC) secretary general Ace Magashule announced that the party’s top decision makers had determined that South Africa’s joblessness will be cut by half in the next five years. 

Magashule provided no intelligible details of how this would be done or why the ANC had decided that the unemployment rate should be 14%. The past decade has seen very little net new job creation by the private sector as corruption, hostile policy, and government ineptitude combined to hound growth and investment out of the country.

Magashule has himself been implicated in high-level corruption and is a prominent advocate for allowing the state to seize private property without compensation, which analysts identify as a primary reason behind South Africa’s present economic slump. 

On the day the ANC made its jobs announcement, the government that it leads announced that the economy had contracted by 3.2% in the first quarter of the year. 

Despite much fanfare about the prospect of reforms being introduced by the party after its May election victory, the recently appointed Cabinet has disappointed many observers for its lack of reform-minded thinkers and weighting in favour of communists and socialist ideologues. 

IRR analysts have said that until the party jettisons leftist ideology and takes the threat of expropriation without compensation off the table, economic recovery is not possible.   

 

If you like what you have just read, become a Friend of the IRR if you aren’t already one by SMSing your name to 32823 or clicking here. Each SMS costs R1.’ Terms & Conditions Apply.


comments powered by Disqus