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Bloomberg put out a list every year of the countries they say have the worst economies for that year and they have now issued their list for 2018. This is apparently based on inflation and unemployment rates in a country. The list really has a number of countries that are not doing well on it including Venezuela, who topped the list, Turkey, Egypt and Greece.
They rated South Africa as the second most miserable economy, saying that, “Jacob Zuma has resigned, but the country faces huge challenges. The next President needs to root out corruption to kick-start the economy.”
There is no doubt that South Africa faces a lot of challenges, but getting rid of Jacob Zuma is a great start on tackling those and hopefully people can stop going on television and making statements and suggestions that the policy of the country is still nationalisation of the land, without compensation and other idiotic comments that frighten people overseas.
The Rand has improved a lot this year and that is certainly one good sign, but we must not forget that a lot of that is simply as a result of Dollar weakness – with the Dollar weakening against currencies all around the world in the last few months. Currencies go up and down and the Dollar is no different.
Posted by Michael de Broglio on Thursday 22-Mar-18
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Comments
Dune said:
on Tuesday 17-Apr-18 10:43 AM
This is no shocker at all, but hopefully we can all be a little bit more optimistic in our country's future. Lets hope and pray that our new president will in fact try and salvage what is left of our beautiful country.
Thabitha said:
on Thursday 12-Apr-18 09:05 AM
We are all hoping and praying that our new president will turn our economy to something better even though it will take time to bring changes, pulling South Africa from the dip hole or clean up JZ mess it will need strong man and woman
Alexis said:
on Wednesday 11-Apr-18 04:42 PM
I have a feeling that things may turn out better seeing as Zuma is no longer the President. However it will take some time before the damage can be rectified
patrick said:
on Monday 09-Apr-18 07:54 AM
The new President is already on the right track to bring back investors .The clean up has already began in state owned companies. I have hope in him .
Sharne said:
on Tuesday 03-Apr-18 08:07 AM
I hope that everything turns out positive, but the way everything is in SA on the moment it doesn't look good.
Tersia said:
on Tuesday 03-Apr-18 07:45 AM
I agree by having replaced Jacob Zuma we are starting to move in the right direction. Time will tell if the new president will be better for this country. It is really not nice to hear that we are the second most miserable economy and I think it will take years and years to change that, if that is ever going to change.
Henrietta said:
on Thursday 29-Mar-18 02:01 PM
It's no surprise that we are rated second worst but quite embarrassing. We still have a long way from getting out of this hole and hopefully we'll get through it just fine. With the election around the corner I am really hoping for a positive outcome.
Clare said:
on Thursday 29-Mar-18 08:51 AM
With everything that is going on in this Country I cant really see a positive out come anymore I really hope that Change does come in this is something that our Government should worry about.
Liz said:
on Thursday 29-Mar-18 08:21 AM
The resignation of our former president, and a big reason for our dire economic situation, comes as a big relief and a sign of hope. We can only hope that things will get better with our new leadership.
Brenda Du Toit said:
on Wednesday 28-Mar-18 08:51 AM
I am not shocked at all about our ranking. I do hope for positive changes for South Africa and that Cyril can make this country better for all of us.
Angelique Jurgens said:
on Tuesday 27-Mar-18 08:42 AM
This comes to no suprise but nonetheless it is not a good thing and something the government really need to work on. Come 2019 whoever takes over need to focus their energy on working on our economy.
Mathilda Du Preez said:
on Monday 26-Mar-18 11:31 AM
Jacob Zuma resigning was the first step in the right direction
Let’s hope the new President will bring positive change
Ashleigh said:
on Monday 26-Mar-18 08:45 AM
The rating does not shock me the least. But lets have faith that things will get better now.
Jadine Richards said:
on Monday 26-Mar-18 08:35 AM
I am not shocked at all about our ranking. It is evident just by looking around on a daily basis.I am however, hopeful about President Ramaphosa's efforts to root out corruption.
Jessica Apfel said:
on Monday 26-Mar-18 08:19 AM
Moody's Rating Agency have just changed our outlook to that of a positive one, and change is certainly imminent as we are no longer on the verge of junk status. Expropriation of Land without compensation needs to be carefully managed, as already seen by the Australian response, it can cause quite an International stir. I am hopeful however, and believe that we are far better or at least have the capabilities of being better!
Melissa said:
on Monday 26-Mar-18 07:46 AM
I am sure that things will start falling in place again with Cyril being our new President. Things can only get better for South Africa.
Jadine E said:
on Monday 26-Mar-18 07:42 AM
It will still take SA a lenghtly time to get back on top with regards to an economy to be proud of, but till then we will just have to wait and see.
Joyce said:
on Friday 23-Mar-18 04:57 PM
I think that’s not nice news about South Africa, but let’s hope for the best and economy improvement in future.
Bianca R said:
on Friday 23-Mar-18 07:42 AM
This is all as a result of Zuma's terrible reign over our country, and the effects will be felt long after he is gone. We can already see that there is a huge task now for our new government, to try and undo and pull our country from the ground, hopefully. We really can only go up once we have hit rock bottom, so we do have that hope.
Fikile said:
on Thursday 22-Mar-18 02:36 PM
i don't really think South Africa is going to improve anytime soon or ever as long as the is too many people who are not working and while people know too much about money will never find a job, that is why most people don't work because of that
Megan said:
on Thursday 22-Mar-18 02:24 PM
Its definitely not a great reflection of our country hearing things like this, I do hope that positive changes continue to happen in our country with Cyril.
Natasha said:
on Thursday 22-Mar-18 02:17 PM
First huge step was getting rid of Jacob Zuma,but there is still a lot more to come its going to be difficult but I hope it gets better sooner or later.
Daniella said:
on Thursday 22-Mar-18 10:28 AM
Jacob Zuma resigning was the first step to a better future! I'm not saying that there isnt a thousand more steps to follow but at least we heading in the right direction.
Nina said:
on Thursday 22-Mar-18 09:08 AM
I do hope that things will change drastically, and I agree that comments about nationalistation of land without compensation is a very big issue, because it also pushes people with great qualifications to decide to rather leave the country. In the long run, that will just do so much more damage to our country.
Bianca N said:
on Thursday 22-Mar-18 08:45 AM
Our country certainly still has a long way to go, but hopefully we will stabilize our economy sooner than later.
Sarah said:
on Thursday 22-Mar-18 08:25 AM
South Africa used to be on of the top countries and I believe it could go back to being a good country again with the right leadership. we have alot of resources.
Johannesburg based attorney specializing in personal injury matters including Road Accident Fund claims and medical negligence matters. My interests include golf, reading and the internet and the way it is constantly developing. I have a passion for life and a desire for less stress!
