Reality of economy proves that Ramaphosa is failing South Africa
18 February 2020
Two years ago, when his term of office as president of South Africa commenced, President Cyril Ramaphosa promised policy reform, economic growth and job creation. These lie at the heart of the country's problems. The reality, however, demonstrates that the country has only deteriorated ever since.
Small, cosmetic changes were indeed made, like helping small and medium enterprises to register a company or a business in one day. But the hard facts paint a sombre picture of the country's poor economic growth.
Before President Ramaphosa took power, the country's economic growth rate was 1,4%. In the first year of his presidency, it fell to 0,8%. And today the Reserve Bank announced that its forecast for economic growth for 2019 is a mere 0,4%.
That is the reality, irrespective of all the President's promises, summits and conferences on investments and job creation. Two years ago, unemployment was 26,7%. In the first year of President Ramaphosa's presidency, it rose to 27,1%. Last year, it increased to 29,1%.