Mhambi has been redeployed.

Sunday, December 03, 2006

Boom times for SA economy

Construction at sunset
Originally uploaded by Parks ZA.
South Africa has just entered a record seven year economic upswing. The expansion largely driven by the contruction sector and services. Mining and agriculture continue to play a smaller part of the economy - which, in the long term can be only a good thing. Agriculture incidently contributes only 3% to South Africa's GDP. It ain't a Boere-republiek no more.

Because os this growth some commentators are lambasting a growing chorus of fierce critics of government: Why are you moaning, the economy is in rude health.

Sonneskyn en Chevrolet

Well, yes, but so was the economy booming it in 1975. In fact, SA had the fastest growing economy in the world then, but a highly unequal one, full of conspicious consumption. We all know what happened in 1976.

But all things being equal, economic growth is good news, and here is some more: The government has changed its controversial Aids policy, which the UK Guardian also sees as a sign of a weakening of the power of president Mbeki. And Australia, oft mooted as an alternative venue for the 2010 world cup, has backed SA.

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