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Vol 60 No 22

Published 7th November 2019

South Africa

Where's the plan?

After the government's brutally honest budget statement, unions and business are pushing rival policies to boost jobs and growth

The sense of a return to the Mandela spirit in the wake of South Africa's 32-12 victory over England in the Rugby World Cup final on 2 November has quickly come up against economic realities as harsh as those in the worst years of the apartheid regime. Centre-stage is the contradiction between the trade unions' calls for a macro-economic stimulus – targeted spending to create jobs and growth – and the treasury's advocacy of micro-economic reforms that would involve restructuring many of the state-owned enterprises, commercialisation and privatisation.

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