Abstract
Since the end of apartheid, South Africa has been characterized by a dualistic economic structure. It is a developed country compared to the African context, but it is still developing for many problems such as high unemployment rates, low levels of foreign direct investments and saving, inflation, and the general levels of poverty and inequality. In this sense, the recent national election, held on 22 April 2009, has a crucial role. The high percentage of voters shows that there is a common sense of revenge. People want to believe that a new beginning is possible. The ANC victory and the election of Jacob Zuma as president appear to be the first steps in order to realize this change. Nevertheless, this national support clashes with international concerns. The background of J. Zuma, the increasingly close cooperation between South Africa and China, as well as the proximity and politic instability of Zimbabwe make international observers skeptical about Zuma’s actions. In the light of the economic and social problems of South Africa, the aim of this paper is to analyze these aspects in order to imagine what the future holds for South Africa.
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Notes
See SARB, Quarterly Bulletin, June 2008.
RDP was the first program created by the new government to accelerate the democratic transition of South Africa in 1996. See also White paper on reconstruction and development: http://www.info.gov.za/view/DownloadFileAction?id=70427.
Launched in 1996, its immediate goal was to stabilize the foreign exchange market. Growth was to be achieved by raising both foreign direct investment and domestic fixed investment through more ‘credible’ (with international investors) macroeconomic policy, especially tighter fiscal and monetary policy. Further objectives included increased exports through a stable real exchange rate together with enhanced competitiveness from labor market reform, skills training and accelerated tariff reform. For further information see http://www.info.gov.za/otherdocs/1996/gear.pdf.
For further details on JIPSA see http://www.info.gov.za/otherdocs/2007/jipsarep.pdf.
In order to monitor the ASGISA progress see ASGISA annual report 2007 published by the presidency of the Republic of South Africa.
For detailed information about BEE see South Africa’s economic transformation: a strategy for broad-based black economic empowerment: http://www.dti.gov.za/bee/complete.pdf and Broad-based black economic empowerment Act http://www.dti.gov.za/bee/BEEAct-2003-2004.pdf.
Once Zuma declared that he was able to ward off AIDS from a woman he was accused of raping by taking a shower.
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Giubilo, F. What Could be the Future of South Africa After National Elections on 22 April 2009?. Transit Stud Rev 16, 948–961 (2010). https://doi.org/10.1007/s11300-009-0121-y
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DOI: https://doi.org/10.1007/s11300-009-0121-y