Business Day (Johannesburg)
1 December 2008
THE global financial crisis will result in the African National Congress (ANC) tempering its election promises. Party leaders are warning that job-creation targets will probably have to be revised.
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And just the other day the government said the world economic slump would not affect SA so badly. Granted, very few, if any, economists of world standard had forecast the economic catastrophe the world is entering now. So, maybe the government economists have done their job right: They can describe in detail what has already happened and can give some clues as to why, but as to what the economy will do tomorrow, that would be pure guesswork on their part. Here the ANC (SACP!) are already backtracking on what they said a few days ago.