JOHANNESBURG - National African Federated Chamber of Commerce and
Industry (Nafcoc) on Tuesday noted the GDP figures that were released, which
indicates a slight improvement in the economic performance of 2.5% in the
second quarter of 2017/18 fiscal year.
Nafcoc Chief Economist, Landiwe
Mahlangu said "This growth is too little and too late and we urge the
government to aggressively pursue complementary interventions to sustain this
growth asserted”.
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"The unemployment rate
still remains high and unchanged at 27,7 % and with over 9 million people living
below poverty line, radical economic interventions are the only options
available" said Mahlangu. While these figures
symbolical end the technical recession that has visited the country in the two
prior quarters, the economy was still structurally vulnerable.
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Therefore authorities should
and must take reasonable and prudent action to restore business and consumer
confidence to ensure this recovery is sustainable.