World Economic Forum: 100 days of Cyril Ramaphosa

PUBLISHED: Mon, 16 Sep 2019 08:52:02 GMT

This week marks 100 days since the official inauguration of President Cyril Ramaphosa. Has he delivered on his election promises? How has the South African economy reacted to his leadership? At the 2019 G7 meeting in Biarritz, France, he told world leaders that Africa was the "new frontier of economic growth and development", in his bid to boost foreign direct investment to kick-start SA’s sluggish GDP growth rate. South Africa has experienced low GDP growth rates for most of the past decade. In the first quarter of 2019, the economy contracted by an annualised 3.2 per cent, the largest quarter-on-quarter drop in a decade. While the National Development plan calls for sustained economic growth of 5 per cent to make decrease inequality, the SA Reserve Bank and international agencies now project growth rate of between 0.6 and 0.7 per cent for the year. What does the future look like under President Cyril Ramaphosa?…

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