Leader of the Opposition requests meeting with President Zuma to discuss the economic crisis
South Africa is facing an economic crisis. Over the past five years, the economy has grown at less than 2% per annum while GDP growth figures for the second quarter of 2015 showed a contraction of 1.3%. If third quarter growth figures reflect a further contraction, we will officially be in a recession.
Addressing this crisis requires that show strong political leadership in order to find solutions that will improve our economic outlook. I have therefore written to President Jacob Zuma to request a meeting to discuss the crisis before us and share possible solution.
Unemployment remains well above 30% with the majority of those affected being young, black South Africans. Key sectors, such as mining, manufacturing and tourism, are shedding jobs with no sign of recovery in sight.
Urgent action is needed to arrest the backward slide of our economy and prevent any further deterioration in our economic outlook. While the impact of global economic conditions on the domestic economy cannot be dismissed, South Africa is clearly underperforming relative to its peers.