Drastic action needed to restart our economy
Given the tough economic environment, we at Nafcoc support the idea of an economic stimulus
Apart from reports that Moody's is not going to throw us into junk status, it has all been bad news on the economic front. SA is caught in a vicious trap of slow or no growth. It has been 10 years since we last grew at 3% and above. The situation calls for drastic action. We, at the coalface, are bearing the brunt of this bad news. Our members have been seeing a decline in sales, increased consumer defaults and price resistance, and some have had to let go of employees. We in the National African Federated Chamber of Commerce and Industry, (Nafcoc) support talk of an economic stimulus. We believe this can be achieved in the following ways:
Strong action should be taken against any public official who fails to pay a small business within the agreed 30 days. In fact, if small businesses were paid within 15 days as a rule, we could grow this economy instantly...
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