FINANCE MINISTER SEES TOUGH YEAR AHEAD FOR SOUTH AFRICA

South African Finance Minister Pravin Gordhan says 2017 will be a difficult year politically and economically for the country.

Gordhan made the prediction when addressing the National Union of Metalworkers of South Africa (Numsa), the largest single trade union in the country, which is holding its annual national congress in Cape Town this week.

The Minister foresees a great deal of uncertainty and instability globally and he made reference to the election of Donald Trump as the next president of the United States and Britain’s vote to leavce the European Union.

He said countries with a traditional two-party system are changing drastically.

“But why is this happening ? It is happening because people and ordinary citizens like yourselves and ourselves are saying inequality between the rich and the poor is growing,” added Gordhan.

“Secondly, distrust between ordinary citizens and the elite — whether they are politicians, bankers, CEOs or perhaps even trade union leaders — that distrust, the gap is growing.

“And thirdly, people are saying, ‘you talk about globalisation, we don’t see the benefits of globalisation’.”

Source: NAM NEWS NETWORK

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