'Ramaphosa to announce govt’s proposed economic stimulus plan'
Minister Nomvula Mokonyane suggested government’s economic stimulus package will address the current challenges but did not say when it would be announced.
PRETORIA - Communications Minister Nomvula Mokonyane says President Cyril Ramaphosa will soon announce government’s proposed economic stimulus plan but she has not given any idea when or what the plan entails.
The minister was speaking at a briefing of the Cabinet meeting outcomes in Pretoria on Thursday.
The latest GDP figures released this week revealed South Africa has entered into a technical recession.
Minister Mokonyane suggested government’s economic stimulus package will address the current challenges but did not say when it would be announced.
“We will be presenting it within a short period of time and that will also be followed by information on our areas of investment.”
She says government is also considering other measures to boost confidence in the country.
“The finalisation of key mining legislation to support the mining sector and further stabilise the finances of state-owned enterprises.”
Mokonyane says global market volatility has significantly hampered local growth.
(Edited by Winnie Theletsane)