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Vol 52 No 4

Published 18th February 2011

South Africa

Zumanomics sound better

There is little new in Zuma’s new economic strategy but his growing confidence is pulling in more support

President Jacob Zuma’s third State of the Nation address to Parliament, on 10 February, was more like a bid for a second term at the elections in 2012. He repeated his New Year pledge that 2011 would be the ‘year of jobs’ and announced a 9 billion rand (US$1.3 bn.) fund to support job creation over the next three years. President Zuma also promised measures to boost manufacturing and improve the lives of the poor through ‘developmental’ rather than welfare strategies. There would be ‘meaningful economic transformation’, he said, and a ‘new growth path’, all ‘working within the premise that the creation of decent work is at the centre of our economic policies’.

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