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ANC was completely in the dark about impending economic crisis

The ANC and its minister of finance, Nhlanhla Nene, were totally unaware of the impending international economic carnage that hit the world like a tsunami this week.

This is apparent from a reply to a parliamentary question that the FF Plus’ parliamentary spokesperson on the economy, adv. Anton Alberts, asked Nene two weeks ago on 14 August 2015 regarding the possibility of a global economic crisis similar or worse than the one in 2008.

The shocking reply which the FF Plus received from Nene on Monday – the day that is now called ‘Black Monday’ on which the Rand fell to its lowest levels ever, was that government had no information that pointed to a crisis. The full question and reply follow below:

REPLY OF THE MINISTER:

Adv. Alberts says it is clear that government was not prepared for the events.

“How is it possible that the state with all its experts could not foresee the crisis? South Africa is completely exposed at a local level as our whole economy is poorly structured and is already experiencing an economic crisis of its own.

“This was largely caused by the ANC’s unworkable economic policies such as affirmative action and BEE and the endemic maladministration and corruption in government.

“The FF Plus picked up clear trends of huge international problems and in particular the over-heating of the Chinese economy. South Africa’s problems are indeed worsened by the fact that we are now over-exposed to China’s economy.

“The ANC was reckless and negligent and it is proven by this reply. It is characteristic of this government on all levels and they will be paying for this in next year’s election”, Adv. Alberts said.

 

Contact no.: 082 391 3117 / 083 419 5403

 

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