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Mbeki seeks to calm economy fears | Mbeki seeks to calm economy fears |
(about 2 hours later) | |
South African President Thabo Mbeki has begun his annual state of the nation address, amid an electricity crisis that has sparked fears of a recession. | |
Mr Mbeki is expected to use the official opening of parliament to defend his economic record. | Mr Mbeki is expected to use the official opening of parliament to defend his economic record. |
Business confidence has plunged to a four-year low amid recent blackouts, which have infuriated the public. | Business confidence has plunged to a four-year low amid recent blackouts, which have infuriated the public. |
Analysts say Mr Mbeki has cut an increasingly lonely figure since losing the ANC presidency to rival Jacob Zuma. | |
Deep rifts remain to be healed inside the ruling party following December's power struggle, which resulted in Mr Zuma and his allies taking most of the top jobs, BBC Southern Africa correspondent Peter Biles says. | Deep rifts remain to be healed inside the ruling party following December's power struggle, which resulted in Mr Zuma and his allies taking most of the top jobs, BBC Southern Africa correspondent Peter Biles says. |
Mr Mbeki has faced calls from business leaders to act over recent rolling power failures, which at one stage stopped production at some of the country's biggest gold and platinum mines. | Mr Mbeki has faced calls from business leaders to act over recent rolling power failures, which at one stage stopped production at some of the country's biggest gold and platinum mines. |
The man who succeeded Nelson Mandela as president of South Africa will step down next year after a decade in office, during which time he has overseen steady economic growth. | The man who succeeded Nelson Mandela as president of South Africa will step down next year after a decade in office, during which time he has overseen steady economic growth. |
But with South Africa due to host the World Cup in 2010, experts have warned its target of 6% economic growth by the end of the decade is fast becoming a pipedream. | But with South Africa due to host the World Cup in 2010, experts have warned its target of 6% economic growth by the end of the decade is fast becoming a pipedream. |