Our economy shrank by 2.6% during the first three months of this year. In the second quarter our economy declined by 0.7%. As a result, we are in what economists would call a technical recession.
The last time our country experienced a recession was nine years ago. Back then Jacob Zuma had just been inaugurated as president.
However, the factors that led to our economy shrinking then had nothing to do with Zuma.
It was triggered by American financial institutions lending money recklessly and it resulted in the biggest banking crisis since the Great Depression of the 1930s.