A positive Cyril Ramaphosa is sure his stimulus plan can lift SA out of recession
President Cyril Ramaphosa is confident that his economic plans will pull the country out of its first recession in nine years.Speaking to journalists from the Chinese city of Hangzhou‚ where he visited e-commerce billionaire Jack Ma as he concluded his five-day visit to China‚ Ramaphosa said he was confident an economic-stimulus package he planned to announce soon would "lift the mood and investment prospects" in the country.Ramaphosa‚ who has been in China since Saturday‚ began his visit with a meeting with Chinese President Xi Jinping on Sunday‚ where the two discussed trade relations between SA and China.The meeting was followed by the Forum on China-Africa Co-operation on Monday and Tuesday‚ which was co-chaired by Ramaphosa and Xi.But news that the South African economy had slipped into a technical recession on Tuesday‚ after Stats SA reported that second-quarter GDP had shrunk by 0.7%‚ put a damper on Ramaphosa’s investment drive in China.However‚ he said he was confident the ...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.