Recession affecting South Africa
By Mikhaila Crowie
9 March 2009
As the recession persists and deepens around the world it is clear South Africa is not as isolated as some commentators would have us believe.
This warning comes from Ann Bernstein, executive director of the Centre for Development and Enterprise.
She says it is vital that South Africa explores what it can do to shorten the recession and protect as many existing jobs as possible.
Bernstein adds that if we approach this challenge with our eyes on the future we should be able to lay the foundation for achieving rapid, sustainable and inclusive growth over the next decade.
Meanwhile, the latest so-called oo-barometer shows that annual house prices fell a further point-seven-percent last month. Saul Geffen, chief executive of ooba, formerly Mortgage SA, says property prices continue to fall in the tough economic climate.
9 March 2009
As the recession persists and deepens around the world it is clear South Africa is not as isolated as some commentators would have us believe.
This warning comes from Ann Bernstein, executive director of the Centre for Development and Enterprise.
She says it is vital that South Africa explores what it can do to shorten the recession and protect as many existing jobs as possible.
Bernstein adds that if we approach this challenge with our eyes on the future we should be able to lay the foundation for achieving rapid, sustainable and inclusive growth over the next decade.
Meanwhile, the latest so-called oo-barometer shows that annual house prices fell a further point-seven-percent last month. Saul Geffen, chief executive of ooba, formerly Mortgage SA, says property prices continue to fall in the tough economic climate.
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