When the African National Congress inherited an economy in 1994
that had been shrinking for 5 years, and that had not grown in per
capita terms for almost 15, it was also one of the most unequal
societies in the world. The government deficit had risen to 9.5 per
cent of GDP, and inflation had been in double figures for 20 years.
How could an organisation with no previous experience of governing
and a history of socialist rhetoric accomplish both a peaceful
transition to democracy and set South Africa on a path toward
sustained economic growth and development? How did they do it and
where are they going? These are the questions addressed in this
book. Very little has been written on South African economic reform
since 1994, and there are no booklength studies at all. This study,
written by an insider who is a former economic historian, offers an
insight into the circumstances under which the policies were
developed, implemented and reviewed, as well as a thorough study of
the outcomes. South Africa today enjoys an economy which is booming
and this is providing support for expanded options required for the
delivery of social policy goals.
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