MALUSI GIGABA: My plan to fix the SA economy
'Yes we want the economy to grow. We want big businesses to expand, we want small businesses to expand, we want new businesses to start and expand'
SPEECH BY MINISTER OF FINANCE ON GOVERNMENT INTERVENTIONS TO STIMULATE INCLUSIVE GROWTH There have been several economic developments in recent weeks. This statement seeks to provide some context to these developments, and inform the public about government interventions to stimulate inclusive growth. On 1 June 2017, Fitch affirmed South Africa’s long term foreign and local currency debt ratings at ‘BB+’ ratings with stable outlook. S&P followed on 2 June 2017 and affirmed the long term foreign currency debt rating at ‘BB+’ and long term local currency debt rating at ‘BBB-’ with negative outlook. As reported earlier in the week, South Africa’s Gross Domestic Product contracted 0.7 per cent between the first quarter of 2017 and the fourth quarter of 2016. This followed a contraction of 0.3 per cent between the fourth and the third quarter of 2016. This trend unfortunately implies that our economy has entered into a recession.
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.