P1

THE ECONOMIC FREEDOM FIGHTERS STATEMENT ON SOUTH AFRICA’S ECONOMY NEGATIVE GROWTH

Tuesday, 03 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 1,0% 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.

 

P3

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.