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The ANC government's mismanagement of the economy has led to South Africa plummeting in key measures in the World Economic Forum’s (WEF’s) Global Competitiveness Report for 2012.

Our performance has been particularly poor in measures of regulatory environment, savings and government debt levels, and labour market efficiency where, out of 144 countries, South Africa is now ranked stone last in terms of labour-employer relations.

The most concerning declines are the following rankings (out of 144):

The regulatory environment:

&bull “Burden of government regulation” from 112 to 123

Labour market efficiency:

“Cooperation in labour-employer relations” from 138 to 144
“Flexibility of wage determination” from 138 to 140
 “Hiring and firing practices” from 139 to 143

Macroeconomic environment:

&bull “Gross national savings as a percentage of GDP” from 72 to 87
&bull “General government debt as a percentage of GDP” from 54 to 68

This is a clear indication that the ANC is mismanaging our economy and is too distracted by its upcoming leadership elections at Mangaung to implement constructive policy reforms in the foreseeable future.

The DA does, however, welcome improvements in South Africa’s financial market development indicators, which are a testament to our sound, well-regulated financial institutions.