Ramaphosa spells out govt's plan to revive economy

With unemployment and a technical recession hitting growth hard, president Ramaphosa used his address at Cosatu’s 13th national congress to partly explain his administration’s plans to shake up the economy.

President Cyril Ramaphosa addresses the Cosatu Congress 2018 at Gallagher Convention Centre in Midrand. Picture: Kayleen Morgan/EWN

JOHANNESBURG - President Cyril Ramaphosa has spelled out government’s plan to jump-start the country’s economy.

With unemployment and a technical recession hitting growth hard, Ramaphosa used his address at Cosatu’s 13th national congress to partly explain his administration’s plans to shake up the economy.

Ramaphosa spent a considerable amount of time talking about the economy and giving feedback on his meeting with investor envoys and business leaders last week.

“In our recent meeting with business, we called upon them not to be too hasty to retrench workers, especially in these difficult economic conditions.”

He also explained how government will address the current economic challenges.

“In the coming days, government will come up with measures that will lead to the reprioritisation of government spending within the current fiscal framework.”

Ramaphosa also assured union members that government has no plans to retrench public servants.

(Edited by Shimoney Regter)