It does not need one to be an economist to see that South Africa is in economic depression
5 June 2019
NUPSAW says South Africa needs to see drastic changes in the manner in which policies are being implemented. It is common cause that the government has formed allies with the elite where free market capitalism is favoured to oppress and brainwash the working class. We need the economy where every individual gets an even opportunity to better themselves.
It is almost a month since South Africa had its 6th round of democratic elections, just over a week after the new National Executive has been introduced. Gross Domestic product has decreased with 3.2% which is the largest decrease since 2009.
NUPSAW says it does not need one to be an economist to know that a GDP decline impacts negatively on investors, businesses and consumers. The Markets are always on the look-out for our economy, undoubtedly, they will be less optimistic than ever before. This on its own chases away investors before they are even approached.
Statistics South Africa has recently issued statistics of unemployment with an annual consistent rise. Such a huge GDP fall only worsens the situation, the 27,6 % of unemployment rate is likely to double in no time. This GDP decline means there will be less productions, consequently less people being employed and eventually less money coming in the market to buy goods.
As NUPSAW and the public at large we need to know the way forward that the Government of the day is willing to implement to elevate our economy. South Africans need to see the policies being executed, job opportunities created, and economic growth being achieved.
“Until such time that we realise that the world is not concerned about us but their survival, our economy will continue to decline if we are to rebuild.” Says Success Mataitsane, NUPSAW General Secretary.
Issued by Ellen Bodoza, Spokesperson, NUPSAW, 5 June 2019
