After the national accounts showed the economy going backwards in the September quarter, Scott Morrison called for “partners” in the parliament to drive the government’s economic plan through.
South Africa is breathing a sigh of relief after escaping a credit rating downgrade. But there are still serious concerns around structure of the country’s economy and finances.
Credit ratings have an impact on government, as well as ordinary people. This article was first published last year as South Africa faced a possible downgrade.
South Africa has made some progress in fixing problems identified by ratings agencies. But there are a number of outstanding issues that might mean the country is given ‘junk’ status.
Demands being made by protesting students in South Africa purport to support the poor. But the most marginalised young people in the country will not benefit from free higher education.
Economic models suggest that South Africa’s GDP would fall, inequality would deepen and unemployment would rise if university graduates don’t enter the labour market in 2017.
South Africa must examine how science funding is allocated to universities. It also needs to acknowledge that not all universities should be focusing on research and development.
The RBA leaves rates on hold, Australia gets a GDP growth spurt from pre-election spending, and the IMF lays the groundwork for a lowering of global growth expectations.
South Africa has claimed back its status of the largest economy in Africa, toppling Nigeria, due to the appreciation of the rand. What’s prompted the movement?