CityPress - - Business -

SIZWE PAMLA COSATU SPOKESPER­SON very­one is fo­cus­ing on the credit rat­ings. For us, it is about job losses. Farms, mines and fac­to­ries are get­ting rid of the work­force.

GDP went down, the price of ev­ery­thing is go­ing up and peo­ple have less to spend. They say ‘re­lieve the state of its bur­dens’, but the state’s sin­gle largest bur­den is the un­em­ployed.

ERICHARD DOWN­ING SACCI CHIEF ECON­O­MIST he GDP fig­ure was no sur­prise. Ev­ery­thing has in­di­cated zero or neg­a­tive growth. The prospects in the sec­ond quar­ter are slightly pos­i­tive, but we could eas­ily have a re­ces­sion. The third quar­ter might look a bit bet­ter now that ev­ery­one is get­ting their ducks in a row.

TNATIONAL TREA­SURY he [Fitch] de­ci­sion af­fords South Africa a nar­row win­dow to demon­strate fur­ther con­crete im­ple­men­ta­tion of re­forms that are al­ready un­der way, and are aimed at turn­ing around the growth path and plac­ing pub­lic fi­nances on a more sus­tain­able path.

We are re­dou­bling our ef­forts aimed at restor­ing con­fi­dence and boost­ing in­vest­ment among lo­cal and in­ter­na­tional in­vestors, un­block­ing ob­sta­cles to faster em­ploy­ment growth in key sec­tors and un­der­tak­ing fiscal, state-owned com­pany and reg­u­la­tory re­forms.

TMOHALE RALEBITSO BLACK BUSI­NESS COUN­CIL CEO e are dis­ap­pointed by the con­trac­tion in eco­nomic growth. This con­firms that we need to move speed­ily on the pack­age of plans that gov­ern­ment, busi­ness and labour are work­ing on to avoid a down­grade and grow jobs.


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