Ramaphosa: Recession a transitional issue that is going to pass
President Cyril Ramaphosa says South Africans shouldn’t be disheartened by the country’s slide into a recession.
Ramaphosa's been in China solidifying economic relations.
With two consecutive contractions in GDP growth this year, the country has found itself in yet another technical recession.
Ramaphosa says that South Africans shouldn’t be discouraged by the technical recession.
“All these things that are happening now [are] transitional issues that are going to pass.”
He says this is the time for various stakeholders to work together.
“We should be pulling together. In fact, I will be meeting with the business community soon, so that we rally everyone together and pull our country out of the situation that we’re in.”
The president says that government is finalising a stimulus package that will inject growth in the economy.
He also says that the investment conference scheduled for next month will come up with solutions to the challenges facing the economy.
(Edited by Shimoney Regter)