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.