SA has all the ingredients to recover from the economic damage caused by Covid-19, President Cyril Ramaphosa said on Monday, adding that recovery had to start now.
“Despite the support measures we have put in place, businesses are being forced to close and jobs are being lost,” he said.Ramaphosa said it was unacceptable to live with an unemployment rate of 30%, which would soon increase. “It is also impossible to build an economy built on inequality,” he said. “Working with our social partners we must speed up the pace of implementation so we can rebuild the base of our economy.”
“They all say we should seek out pockets of excellence in the state and support and deepen them. But they also say we must look outside the state. We need to bring together the best available local skills, whether in business, academia or civil society, to support our common programme,” said Ramaphosa.
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COVID-19 LIVE UPDATES | Ramaphosa confident SA has 'ingredients for economic recovery' as virus wreaks havoc'This is not the time to despair but to act. It is untenable, and unacceptable, to live with an unemployment rate of 30 percent, which will soon increase. It is also impossible to build an economy built on inequality.'
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