SA needs creative ways to grow economy - Ramaphosa
President Cyril Ramaphosa said that the country had no option but to increase levels of investment through infrastructure development.
CAPE TOWN - President Cyril Ramaphosa said that South Africa still found itself in a dire economic situation and needed creative ways to grow the economy.
Ramaphosa said that the country had no option but to increase levels of investment through infrastructure development.
He made the remarks during an oral reply session in the National Assembly where he was answering questions about inequality and the economy.
President Cyril Ramaphosa addressed MPs about the country’s dire economic situation a day after Finance Minister Tito Mboweni delivered a similarly gloomy assessment of the country’s economy.
He said that infrastructure development had to be prioritised if the country wanted to grow the economy.
"Now vital in the effort to drive investment is our infrastructure build programme. We've said in the past that infrastructure was one of the key drivers of economic growth which has served us well in the past."
On Mboweni’s economic recovery plan, Ramaphosa said that several reforms contained in the document had already been implemented.
"Now the paper addresses the challenge of youth employment and we have through various discussions we've had elsewhere have now embarked on various measures to address precisely this problem."
WATCH: 'SOEs must learn to stand on their own feet' - Mid-term Budget highlights