Collaboration beginning to yield desired results on economic growth
7 September 2016
The African National Congress notes and welcomes the positive Gross Domestic Product (GDP) growth figures as released by Statistics South Africa yesterday, 6 September 2016. The better than expected growth of the South African economy by 3,3% in the 2nd Quarter of 2016 demonstrates that the ANC-led government’s collaborative approach, working together with organized labour, business and civil society is beginning to yield the desired results in our economy.
As we continue to embattle the effects of a debilitating global economic crisis and almost 4 years of deceleration in our country’s economic growth rates, the ANC is encouraged by recent positive signs in the economy including a resilient rand and the fastest quarter-on-quarter rise in economic activity since 2014.
With this quarter’s growth being underpinned by positive performance in the Manufacturing and Mining, the GDP figures reflect a functional and resilient industrial sector and ANC calls upon all stakeholders within these sectors to build on the successes of their collaborative approach. It is only through such an approach that South Africa can realize faster employment growth and promote investment.
The ANC reiterates its commitment fundamental economic transformation characterized by, amongst others, raising the level and inclusivity of economic growth through prudent management of the South African economy. This includes addressing structural constraints to economic growth and asserting cohesion and stability in a strategic institutions of the state that are critical to restoring and maintaining confidence in the economy whilst most importantly dealing decisively with poverty, unemployment and inequality.
Issued by Zizi Kodwa, National Spokesperson, ANC, 7 September 2016
