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Power crisis denting growth
25/04/2008 06:59 - (SA)
Pretoria - SA's electricity crisis was affecting economic growth, said economist Mike Schussler said on Thursday.
Speaking at a briefing hosted by trade union Solidarity in Pretoria, Schussler said the crisis was affecting economic growth.
"The implication on the economy is already having an effect on the exchange rate, we've already felt it," he said.
He added that this was creating political instability and that the country should expand production in various fields.
He said that the perception that SA has the cheapest
electricity in the world was wrong. Schussler said that should electricity tariffs increase as requested by Eskom, the middle class would be the one paying more for electricity.
Eskom had proposed a 53% tariff hike.
- Sapa
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