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GDP shrinks for first time in 10 years; car makers need R10bn bailout
THE global economic storm has finally reached our shores.
South Africa’s economy has shrunk for the first time in 10 years. With economists warning that we might already be in a recession and local car manufacturers approaching government for a R10-billion bailout, pressure is building on the Reserve Bank to cut interest rates more aggressively.
Lihle Z MtshalI, Zweli Mokgata, Werner Swart and Kea Modimoeng
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