Gross Domestic Product (GDP) growth statistics released today by StatsSA reveal that South Africa’s economic growth dropped to 0.7% in the third quarter of 2013, even lower than the growth in the first quarter.
This is the result of President’s Zuma’s inability, over the past four years, to lead government through the ideological stand-off at the heart of the economics cluster.
Four years of failure to drive a reform agenda, and now the chickens are coming home to roost.
Other developing countries like Chile, Malaysia and Turkey are all growing at more than 4%.
According to StatsSA, manufacturing strikes, particularly the recent ones in the automotive sector, struck a serious blow to our economic growth. Manufacturing shrunk by 6.6% and reduced overall GDP growth by one percentage point.
The lack of leadership has compromised the implementation of reforms to expand the economy and stimulate job creation. Instead, President Zuma’s government has dragged our country through a string of recent political scandals.
South Africa has the potential to emulate the high growth rates of other developing countries, but first we need a government that embraces innovative policies and provides strong leadership.
In next year’s elections South Africans will get a chance to send a strong signal to the ANC that they will not tolerate the ANC’s mismanagement of the economy by supporting the DA, a party with a proven economic track record that will grow the economy and create jobs where elected.