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Address by President Cyril Ramaphosa to the Joint Sitting of Parliament on South Africa's Economic Reconstruction and Recovery Plan.
This timely book analyses the crisis and chaos of journalism in contemporary South Africa at a period when the media and their role are frequently at the centre of public debate. The transition to digital news has been messy, random and unpredictable.
Blame "Capital Monopoly" if you must, but blame "White Monopoly Capital" at your peril. The South African Government's strategy, when dealing with the economic fallout, has been to set itself off against Business squarely, being the demon in society, while characterising Government as the White Knight out to protect society against the ravages of bad Business.
Democratic Alliance Member of Parliament, Ghaleb Cachalia, who also serves as the party’s spokesman on public enterprises and serves on the Ethics Committee in Parliament, introduced the Public Finance Management Amendment Bill to the National Assembly.
In his Adjustment Budget Speech Minister of Finance Tito Mboweni told us what we already knew. Debt is up and we need to borrow even more, spending will increase, government revenue will be less than expected, the deficit will increase, the economy is expected to contract, and unemployment is higher than usual.
The negative effects of South Africa's hard lockdown continue to reverberate through the economy and broader society. The latest flashpoint has been in the taxi industry, specifically in Gauteng, where the South African National Taxi Council (SANTANCO) started the week of 29 June by indicating their taxis will operate at 100% capacity – in open defiance of lockdown regulations.
The South African economy, like many emerging and developing economies, has high levels of poverty. As with many such countries, there are three primary objectives to reducing poverty, unemployment and inequity. These three objectives take precedence over almost all other goals.
Okay, I have decided to nail my colours to the mast on COVID-19. And before you ask… No, I am not an epidemiologist or economist. Nor am I a politician with votes to garner, or a journalist who revels in sensationalism. I am just an opinionated individual with no power other than to express my opinion. And I am angry and saddened and sound it.
The COVID-19 pandemic has had a global impact. The South African government has been applauded by the World Health Organisation for its quick response to curb the spread of the COVID-19 in its early stages, and prepare its health care system to better respond to the pandemic.
Local investors should stay invested to reap strong future returns. An early decisive response to the COVID-19 threat should contain the spread of the virus in South Africa, but the economic repercussions in the short term will be costly. Local measures to contain the virus will add to an already weak economy and negative global impact.