DA conservative on radical economic reforms

radical economic reformsFrom DION HENRICK in Cape Town
CAPE TOWN, (CAJ News) – THE South African main opposition, Democratic Alliance, has called on the governing African National Congress to shelve its radical economic transformation approach as the country battles rising unemployment.
DA argued ANC’s approach would worsen unemployment currently affecting over 9 million people directly.
“The fact is that ‘radical economic transformation’ is killing the economy and that is why we need a fundamental shift in economic policy to boost economic growth and create jobs in South Africa,” said DA Shadow Minister of Finance, David Maynier.
Maynier, who is also a member of parliament (MP), argued the current Gross Domestic Product (GDP) of 2,5 percent for the second quarter of 2017 did not completely lift the economy out of recession.
“The fact that GDP, in the second quarter of this year, expanded quarter-on-quarter, by 2,5 percent, lifting the economy out of recession, provides little hope to the 9,3 million people who do not have jobs, or have given up looking for jobs, in South Africa,” he said.
The main opposition argues 30,4 million South Africans, out of 56 million, are living below the poverty line.
CAJ News

Short URL: http://cajnewsafrica.com/?p=22337

Posted by on Sep 5 2017. Filed under Africa & World, Featured, National, News, Regional. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

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