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Vol 55 No 23

Published 21st November 2014

South Africa

Gloom settles on economy

The aims of public spending cuts and structural change to improve growth sit ill with the pressure in the cabinet for radical policies

Six months into President Jacob Zuma's last term of office, the economic forecasts are worsening. The governing African National Congress is suffering from strategic splits in its Triple Alliance with trades unions and communists at a time of slow growth, declining state capacity, a ratings downgrade and persistent allegations of corruption against the ruling circle. Zuma and the government will probably muddle through but many feel that economic management will follow the downhill path taken by the ANC's cohesion and stature.

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