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Mabuza: We must show confidence in our own economy

Mabuza addressed the annual National Economic Development and Labour Council summit in Centurion on Friday.

FILE: Deputy President David Mabuza. Picture: GCIS.

JOHANNESBURG - Deputy President David Mabuza has called on labour unions and business leaders to show confidence in the country’s economy.

Mabuza addressed the annual National Economic Development and Labour Council summit in Centurion on Friday.

South Africans are battling financially, following a value-added tax increase and petrol price hikes. The economy is also struggling to grow. The country slipped into a recession and the gross domestic product fell by 0.7% in the second quarter of 2018.

The largest negative contributors to growth in GDP were agriculture, transport and trade.

The government admits it has to do something urgently. Mabuza says the confidence in the economy must not be lost.

“We must show confidence in our own economy if we expect other people to show confidence.”

He says the government will do its part to ensure that appropriate governance structures are put in place.

FIGHTING CORRUPTION

Mabuza says the government is committed to rooting out corruption in its systems, adding private business must follow suit.

Mabuza says the government is serious about fighting corruption.

“As the government, we’ve made a commitment to root out corruption.”

He says business and labour leaders must join hands with government to defeat corruption in both the public and the private sector.

“We need businesses to close the taps of corporate greed, just as we need to ensure that public representatives do not use public resources for their private interests.”

He’s also called on all roleplayers not to give up on the country’s economy, saying the government is working on a plan.

(Edited by Shimoney Regter and Zamangwane Shange)