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National Budget Review
17 February 2010

Acknowledgements: FANRPAN acknowledges National Treasury as the source of this document


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The past 18 months have indeed been tumultuous. The global economy experienced its deepest recession in seven decades, precipitating South Africa’s first recession in 17 years. The depth of the domestic downturn is best measured not in GDP figures, but in human terms: more than 900 000 people have lost their jobs since the crisis began, affecting the lives and livelihoods of millions of South Africans.

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