Cutting the bloated public service wage bill, as the finance minister is doing, is critically important economically. But it is sure to be unpopular with the governing ANC's powerful labour allies.
The general loss of faith in the economy is the most important issue President Zuma must address. More radical social and economic transformation, with emphasis on land reform will be most critical.
After a decade of narrowing fiscal deficits, South Africa has borrowed heavily since 2009 to support the economy. The debt pile exposes the country to the risk of a sell-off by foreign bond holders