Measures in place to ensure economy’s resilience

President Jacob Zuma says measures have been put in place to ensure the economy’s resilience is sustained, as the world economy continues to experience sluggish growth.

South Africa, like all other developing nations, could not emerge unscathed from the turbulent global economic conditions following the 2008 economic crisis.

“I appointed an Inter-Ministerial Committee in January this year to further support and assist investors to leverage existing trade and investment opportunities in our country. In the recent past, I dispatched a team of South Africans led by the Minister of Finance to interface with investors abroad.

“These efforts, among others, have started yielding positive results,” said the President.

He said government has worked hard to ensure the energy constraints the country experienced last year are addressed.

This will ensure “industries can keep on functioning in order to save jobs and entrench economic stability”.

The International Monetary Fund team which recently visited South Africa, pronounced its confidence that South Africa’s economy will soon be on a growth trajectory. This follows the affirmation of the current investor rating.

“I have regularly met with business and labour to review progress and collectively chart a way forward,” said the President, adding that to further consolidate work in this area, Deputy President Cyril Ramaphosa led a delegation to Rwanda to participate in the World Economic Forum for Africa.

President Zuma was speaking at the Sefako Makgatho Presidential Guest House in Pretoria on Friday were he was accepting letters of credence from Ambassadors and High Commissioners.

Sixteen countries presented their letters of credence including Gabon, Chad, Thailand, Sierra Leon, Iceland and Haiti, among others.

President Zuma said the letters of credence are a further demonstration of a collective commitment to deepen political and socio-economic ties.

“We look forward to working with all of you as we strengthen relations in pursuit of a better Africa and a better world.”

President Zuma also used the occasion to remind the Ambassadors and High Commissioners of the importance of unity on Africa Day, which is coming up on 25 May.

The Ambassadors and High Commissioners in turn thanked South Africa for recognising the importance of diplomatic relations.

Source: Government Communication and information System