President Cyril Ramaphosa said South Africa was facing a “stark reality” with a stalled economy that had not achieved any meaningful growth for over a decade. SONA SONA2020
The country is facing a “stark reality” with a stalled economy that has not achieved any meaningful growth for over a decade, President Cyril Ramaphosa said during his State of the Nation Address on Thursday night .
With the unemployment rate at the highest in at least a decade, State Owned Enterprises like Eskom and SAA floundering and trade and manufacturing sectors bleeding jobs, many looked to Ramaphosa's speech to provide solutions for the dire state of the economy. “Our economy has not grown at any meaningful rate for over a decade. Even as jobs are created the rate of unemployment continues to deepen. The recovery of our economy has stalled as persistent energy shortages have disrupted business and people’s lives. Several SOEs are in distress and our public finances are under severe pressure," Ramaphosa told the joint sitting of the NAtional Assembly..
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