Economists slam ANCYL president's controversial comments


President of the African National Congress Youth League Collen Maine has said the party's youth would defend President Jacob Zuma at all costs.

DURBAN - ANC Youth League president Collen Maine is in trouble, over controversial comments on the Rand.

Maine told league supporters in Durban that if the local currency had to fall so that the ANC could be in control of the economy, so be it.

He addressed the crowd in the presence of President Jacob Zuma.

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Economists warned politicians to think twice before making reckless remarks about the economy.

Economists say if the rand falls any further some consequences include price increases for paraffin, petrol, milk and maize.

Mike Schussler, an economist, said, "All prices will go up paraffin, petrol, milk, maize and we are looking at everybody in South Africa paying more if the Rand falls.”

But Maine says the local currency is the problem, commenting, 'this Rand comrade is very problematic, during the local government elections when they said the ANC is not doing well in the metros, the Rand gained strength but when the ANC is winning somewhere else the Rand is depreciating, what is the problem."

South Africa's economy grew by 0.2 percent in the 3rd quarter of this year.

Schussler explained, "If the currency falls we get poor in relative terms to other countries as well and we fall off the investment radar and it becomes more difficult to create jobs."