EFF statement on economy’s negative growth
3 March 2020
The Economic Freedom Fighters notes the dependable data released by Statistics South Africa which points to the reality that South Africa's economy continues to shrink under the leadership of Cyril Ramaphosa. In its latest statement, StatsSA points to the fact that South Africa's economy slipped into its 3rd recession since 1994 in Quarter 4: 2019, shrinking by 1,4%. This followed a contraction of 0,8% in Quarter 3.
StatsSA further says that "The secondary sector decreased by 2,9% in Quarter 4: 2019, dragged down mostly by manufacturing and construction. The tertiary sector also declined by 1 as the transport industry decreased by 7,2%" Furthermore, "The primary sector declined by 0,4% in Q4:2019. Agriculture experienced its 4th consecutive quarter of negative growth, falling by 7,6%, while mining growth was driven largely by platinum group metals, iron ore & gold".
All these happen when the capitalist establishment and their media representatives are deliberately falsifying the true state of South Africa's economy under Cyril Ramaphosa and Tito Mboweni.
The people of South Africa should soon wake up to the reality and indisputable fact that the neo-liberal policies of Cyril Ramaphosa and the austerity measures imposed by Tito Mboweni will continue to worsen the economic conditions in South Africa.
The neoliberalism of Ramaphosa and Tito Mboweni are dangerous and will worsen unemployment, deepen poverty, increase inequalities and narrow the base from which the State should collect revenue for the provision of basic services.
The failure to grow the economy by the current representatives of the white capitalist establishment cannot and should not be blamed on external forces, but on their own incapacity to drive local economic activities and create jobs.
On various occasions, the EFF has tabled comprehensive economic growth plans and policies and these include a land redistribution plan which will guarantee access to land by all South Africans, not a few descendants of colonial settlers. Our immediate submissions include proper usage of state procurement as a driver for local industrialization and heightened economic activity. The EFF made submissions on the usage of trade policy to protect strategic local industries.
Despite these submissions and many others, the neoliberals are hellbent on imposing austerity measures and staying true to neoliberalism, which is at the centre of a shrinking economy. The people of South Africa should know that the direction taken by South Africa under Ramaphosa and National Treasury under Tito Mboweni will cause further recession, jobs losses, shrinking revenue base and deepened poverty.
The EFF will join forces with all progressive forces in South Africa to reject the misdirected energy of the current political leadership, which is failing in everything they are doing.
Issued by Vuyani Pambo, National Spokesperson, EFF, 3 March 2020
