SOUTH AFRICA: GOVT SEEKS WAYS TO PREVENT ECONOMY DECLINE – RAMAPHOSA

PRETORIA, Feb 7, African National Congress Deputy President Cyril Ramaphosa says the South African government is seeking ways to prevent the economy from declining.

He addressed the ANC Limpopo 104th anniversary gala dinner in Polokwane Saturday night.

In a recent report, the World Bank projected that South Africa’s economy is to decline by 0.8% this year.

“The World Bank revised our projection for growth this year and they revised it downward but we’re determined to prove that we can actually work very hard together the business community with labour various components of the alliance to make sure that we uphold our economic performance and ensure that we don’t continue slipping downward,” says Ramaphosa.

He says South Africa is not alone in facing economic challenges.

“Our partners in BRICS are going through a trying and testing time, Brazil has been put into junk status we’re doing everything we can so that we don’t fall into junk status but many countries throughout the world are going through difficult and challenging times. Our minister of Finance Pravin Gordhan when he presents his budget he’ll be seeking to come up with solutions that are going to address difficult challenges that we’re facing, says Ramaphosa.

Meanwhile, Ramaphosa is calling on the ruling party in Limpopo to improve the financial management, including in the municipalities.

He says some municipalities in the province are dysfunctional due mismanagement.

The provincial government was once placed under administration due to financial mismanagement.

Source: SABC