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President Ramaphosa welcomes Q2 growth findings

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President Cyril Ramaphosa has described the figures released by Statistics South Africa that the economy grew by 3.1 per cent from April to June 2019 as a promising sign of improved economic performance.

The Stats SA figures come on the eve of South Africa’s hosting of the World Economic Forum Africa in Cape Town.

President Ramaphosa said: “We are delighted with the announcement that economic performance was much better (in Quarter 2) than in the earlier quarter.”

The President added that this growth had been achieved in various economic sectors on which government would focus in future.

“This is good news that is sorely needed, as we will be talking more and more about opportunities for South Africa, having adopted the Africa Continental Free Trade Agreement, which is due to be a major boost for the economic fortunes of our country across a number of sectors.”

The President said South Africa would leverage the free trade agreement, that provides access to a market with a population of 1,2 billion people, to “catapult various sectors of our economy to higher levels of growth”.

President Ramaphosa said South Africa’s hosting of WEF Africa was a platform for a “much broader, Africa-centric look at economic growth beyond our own shores, and how, through trade and investment, we can take up various opportunities that lie ahead”.

The President also invited South Africans to join in the discussion around the economic policy paper published recently by the National Treasury.

He said all perspectives and comments on the paper would be welcomed- and will enrich the debate around the appropriate economic strategy South Africa should be pursuing in the current climate.

Media enquiries: Khusela Diko, Spokesperson to the President – 072 854 5707
Issued by: The Presidency