LATEST ECONOMIC STATS CALL FOR PARTNERSHIP
The latest GDP figures, released today (26 May 2009) by Statistics SA, highlight more than ever the need for all social partners to work together to ensure that the economy overcomes this difficult period.
The decline in GDP in the first quarter of 2009, following the contraction in the last quarter of 2008, is evidence of the impact of the global economic crisis on our country. It shows that the South African economy is not immune from international developments.
The performance of the South African economy highlights the need for all stakeholders to work together to ensure that we maintain the economic achievements of the last 15 years, and that we are in a position to accelerate growth and job creation as the global economy recovers.
Among other things, we need to focus on the implementation of the measures in the framework agreement reached between business, government and labour.
Despite the drop in growth, South Africa has fared better than many other countries. We need to hold our economic course, while taking steps to improve our economic position.