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Declaring December 15 a public holiday to mark the Springboks’ record fourth World Cup triumph, President Cyril Ramaphosa on Monday night said the country should draw hope that with similar resolve it can overcome an ongoing economic crisis.
“Together, we overcame apartheid, ended centuries of conflict and gave birth to a thriving democracy. Together, we confronted and overcame the deadliest global pandemic in over a century. We are indeed stronger together.” He said electricity supply was improving, jobs were being created, state capture culprits were being brought to justice and efforts were underway to restore the country’s logistics systems to “world class standards”. The president’s remarks on the economy come two days before Finance Minister Enoch Godongwana will table the MTPS in parliament on Wednesday. With the commodities windfall on the wane, the minister faces a deficit crisis with economists forecasting a shortfall of about 0.
“As the minister of finance has noted, for every rand that the government collects in revenue, 18 cents go towards servicing our national debt. This means that we are now paying more in interest on our national debt than we are budgeting for the police force.” Remarking that the Social Relief of Distress grant introduced in 2020 “has kept millions of people out of poverty”, he said it should be stressed that welfare grants as well as public employment programmes were vital to support the vulnerable.
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