Zuma says South Africa to leave recession “quicker than we believe”

PUBLISHED: Fri, 23 Jun 2017 08:29:54 GMT

CAPE TOWN (Reuters) – South African President Jacob Zuma told parliament on Thursday the economy would come out of recession “quicker than we believe”, his first public comments since data showed Africa’s most industrialised economy was struggling.

The country sank into recession for the first time in eight years in the first quarter, hit by weakness in consumer sectors such as wholesale, retail and accommodation.

Asked by a lawmaker why he should still be in office given the economic woes and personal scandals, Zuma said he was elected by the people.

(Reporting by Wendell Roelf; Writing by James Macharia; Editing by Ed Cropley)

Sign Up for Our Newsletter Daily Update
Get the best of CNBC Africa sent straight to your inbox with breaking business news, insights and updates from experts across the continent.
Get this delivered to your inbox, and more info about about our products and services. By signing up for newsletters, you are agreeing to our Terms of Use and Privacy Policy.