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South Africa Slips Into Its Second Recession In 8 Years - Foreign Affairs (2) - Nairaland

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Thomas Schäfe Commits Suicide Over Recession Caused By Coronavirus / South Africa Slips Into Recession / South Africa Slips Into Technical Recession As GDP Drops 0.7% In Q2 (2) (3) (4)

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Re: South Africa Slips Into Its Second Recession In 8 Years by Marxv: 12:33pm On Jun 06, 2017
No country is better.....faith in God in anywere guarantees ur survival

3 Likes

Re: South Africa Slips Into Its Second Recession In 8 Years by 4Play(m): 12:33pm On Jun 06, 2017
I am sure they have put this to front page to make it seem the Nigerian economy is well managed by the Buhari government by comparison.

South Africa's GDP growth has lagged Nigeria's in the post-apartheid era. This is like the Venezuela analogy that Buhari apologists trot out where most don't realise that Venezuela went into recession in 2013.

3 Likes

Re: South Africa Slips Into Its Second Recession In 8 Years by iHateFlatinos: 12:33pm On Jun 06, 2017
buhari has infected them
Re: South Africa Slips Into Its Second Recession In 8 Years by wristbangle: 12:34pm On Jun 06, 2017
Back to post, the recession quagmire affects all hemisphere in the world which Africa is worst hit due to several factors such as low skilled labour force, Little resources, corruption and inept attitude of African leaders, etc.

Just like my friend franchise21 said, two largest africa economy in recession, trouble dey true true! sad

1 Like

Re: South Africa Slips Into Its Second Recession In 8 Years by Nobody: 12:35pm On Jun 06, 2017
So Jonathan Zuma is going
Re: South Africa Slips Into Its Second Recession In 8 Years by adem30: 12:35pm On Jun 06, 2017
maybe I should Blame Buhari for this too
Re: South Africa Slips Into Its Second Recession In 8 Years by Nobody: 12:36pm On Jun 06, 2017
Chaii!...Nig urgently needs a charismatic leader so we don't slip into 2nd recession in 2 years!
Re: South Africa Slips Into Its Second Recession In 8 Years by geozone: 12:36pm On Jun 06, 2017
filthy homophobes
Re: South Africa Slips Into Its Second Recession In 8 Years by RaptorX: 12:36pm On Jun 06, 2017
More fuel for the white racists that predicted that South Africa will become another failed African state after the end of white minority rule. Can't really argue with them because the level of violence and corruption there now was never seen during the apartheid years.

1 Like

Re: South Africa Slips Into Its Second Recession In 8 Years by blingxx(m): 12:36pm On Jun 06, 2017
I will Advice all the nigerians in s.a to come back home ASAP ..because s.Africans will start using their frustration on us undecided

1 Like

Re: South Africa Slips Into Its Second Recession In 8 Years by Nobody: 12:38pm On Jun 06, 2017
The country is being raped by Zuma & Crew

1 Like

Re: South Africa Slips Into Its Second Recession In 8 Years by Nobody: 12:38pm On Jun 06, 2017
4Play:
I am sure they have put this to front page to make it seem the Nigerian economy is well managed by the Buhari government by comparison.

South Africa's GDP growth has lagged Nigeria's in the post-apartheid era. This is like the Venezuela analogy that Buhari apologists trot out where most don't realise that Venezuela went into recession in 2013.

No....just to show both of them have the same issue...reliance on one resource....which in South Africa's case is its diamonds and platinum.(I.e...both are badly managed).

South Africa does have a viable industrial sector...but thanks to years of arphateid...there aren't enough black technicians to man the industries.(And its steel industry has lost out to cheap steel from China).

Then add corruption (Jacob Zuma has a lot of cases on his head) and an economy based on sharing money in the name of welfare....and you get the picture.

The leader of the Opposition Democratic Alliance was talking about diversificaiton a few months ago...which shows you what's up.

1 Like

Re: South Africa Slips Into Its Second Recession In 8 Years by Franchise21(m): 12:38pm On Jun 06, 2017
Africa's two biggest economy in recession...

Odiegwu!

1 Like

Re: South Africa Slips Into Its Second Recession In 8 Years by adem30: 12:43pm On Jun 06, 2017
SalamRushdie:
A thread for clueless Buhari supporter to come say " we told you it's not only Nigeria that is suffering recession " but they will forget that both Jacob Zuma and Buhari are two very useless leaders with Buhari being the more useless one

Yet your brothers are dying to go/stay in South Africa
Re: South Africa Slips Into Its Second Recession In 8 Years by Nobody: 12:44pm On Jun 06, 2017
wristbangle:
In IPOB voice. See what PMB has caused

Back to post, the recession quagmire affects all hemisphere in the world which Africa is worst hit due to several factors such low skilled labour force, Little resources, corruption and inept attitude of leaders, etc.


Good points...except the resources issue.

We actually have enough resources. The problem is...we just export them and share the revenue...which we then use to import...depressing local industries...and local innovative efforts(which is why our educational system is in a mess....you do not need to innovate...so you just learn to get your certificate and get a white collar job...and also why we have so many low skilled labour...because white collar jobs are so attractive)...and loss of jobs...and a bad economy as a result.

1 Like

Re: South Africa Slips Into Its Second Recession In 8 Years by Nobody: 12:47pm On Jun 06, 2017
how does that concern the average Nigerian? we have our own problems to tackle... we don't news from shaka zulu country.
Re: South Africa Slips Into Its Second Recession In 8 Years by Nobody: 12:48pm On Jun 06, 2017
It would not funny by the time this recession gets to places like India, Malaysia, Canada etc I think our boys in those countries should come back home to invest what they have made into our economy. Nigeria's economy is so bad to the extent that Indonesia has decided to help. Meanwhile, our brothers and sisters are out there living a king's life. It's a shame
Re: South Africa Slips Into Its Second Recession In 8 Years by Hanks0000(m): 12:49pm On Jun 06, 2017
Nigeria escsped from it and now SA is in it.... WHO IS GOING TO HELP THEM NOW
Re: South Africa Slips Into Its Second Recession In 8 Years by TheMortician: 12:49pm On Jun 06, 2017
pittoilet:
South Africa’s economy fell into a recession for the first time since 2009 after it contracted for a second straight quarter in the first three months of the year.

Gross domestic product shrank an annualized 0.7% in the first quarter from a contraction of 0.3% in the previous three months, Statistics South Africa said in a report released on Tuesday in the capital, Pretoria.

According to Stats SA the largest negative contributor to growth in GDP in the first quarter was the trade, catering and accommodation industry, which decreased by 5.9% and contributed -0.8 of a percentage point to GDP growth.

The manufacturing industry contracted by 3.7% and contributed -0.5 of a percentage point to GDP growth.

Seven out of ten divisions reported negative growth rates in the first quarter. The largest contributor to the decrease was the petroleum, chemical products, rubber and plastic products division.

In contrast the mining and quarrying industry increased by 12.8%, and contributed 0.9 of a percentage point to GDP growth.

http://www.looknaija.com/2017/06/south-africa-slips-second-recession-8-years/

mynd44
The African Chicago in the making grin grin grin grin

The problem with the country is the blek Zulus. They are so busy chasing other black immigrants who are skilled, educated and enterprising with xenophobia when they are too lazy and unmotivated to work.

South Africa will eventually end like Zimbabwe when these unemployable dumb Zulus have finished running the country underground with BEE.

1 Like

Re: South Africa Slips Into Its Second Recession In 8 Years by Nobody: 12:50pm On Jun 06, 2017
If your username starts with 9ja, why are you using the word our as if you are a south african?


9jakohai:



Good points...except the resources issue.

We actually have enough resources. The problem is...we just export them and share the revenue...which we then use to import...depressing local industries...and local innovative efforts(which is why our educational system is in a mess....you do not need to innovate...so you just learn to get your certificate and get a white collar job...and also why we have so many low skilled labour...because white collar jobs are so attractive)...and loss of jobs...and a bad economy as a result.
Re: South Africa Slips Into Its Second Recession In 8 Years by Gabriel6(m): 12:50pm On Jun 06, 2017
skullzflex:
you are not alone grin
by Michael Jackson

1 Like

Re: South Africa Slips Into Its Second Recession In 8 Years by judedwriter(m): 12:51pm On Jun 06, 2017
skullzflex:
We are not alone grin
We can now offer SA a shoulder to lean and cry on...we are Africa's big bros of recession cheesy lol i pray we come out quick though...

1 Like 1 Share

Re: South Africa Slips Into Its Second Recession In 8 Years by Nobody: 12:53pm On Jun 06, 2017
NubiLove:
If your username starts with 9ja, why are you using the word our as if you are a south african?



Part grammatical mistake. grin...but intentional....as I also was referring to the whole African continent there.

Most African countries are....like Nigeria and South Africa...dependent on revenue from selling one or two resources.Once the price of the resources goes down....we get into economic palaver. Once prices go up, we fool ourselves into thinking everything is all right...when it isn't.

2 Likes

Re: South Africa Slips Into Its Second Recession In 8 Years by Solar2power(m): 12:53pm On Jun 06, 2017
TruePass:
No go say na same with Nigeria. A country where u can comfortably take your baby out with 100rands or even buy better thing inside Shoprite.
5 rand get big value here, u fit use em board taxi, pay for an hour for internet service even buy cold drink drink. If u give babe 5rand she go smile any time she see u, u fit chop her later self. Na hell u nah dey. Una no know. grin

Hmm,
Plz tell me more
Re: South Africa Slips Into Its Second Recession In 8 Years by MrEverest(m): 12:54pm On Jun 06, 2017
The two giants of SSA (Nigeria & South Africa) going down economically will affect other countries in the region. While the latter has a fairly developed infrasture and industrial base, the former is battling poor and decaying infrasture, massive unemployment, Insecurity & now a secessionist struggle that is threatning to tear it apart.
Re: South Africa Slips Into Its Second Recession In 8 Years by Aburi001: 12:54pm On Jun 06, 2017
free2ryhme:
grin

That's all thanks to Jacob Zuma and his state capture adventure

They are welcome onboard grin
Re: South Africa Slips Into Its Second Recession In 8 Years by maxysmith(f): 12:55pm On Jun 06, 2017
You re highly welcome

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