South African economy: From Ramaphoria to Ramapression?

South African economy: From Ramaphoria to Ramapression?

- Cyril Ramaphosa promised South Africans an economically stronger country when he became president

- The latest data shows that the economy has not grown, it has shrunk

- It seems that the level of confidence in the South African president is as low as it was with Jacob Zuma

PAY ATTENTION: Click “See First” under the “Following” tab to see News on your News Feed!

When Cyril Ramaphosa took over leadership of South Africa, he promised a better and stronger economy and South Africans cheered because they were so over Jacob Zuma.

But it is starting to look like the promises were nothing more than beautiful lies that had South African hopeful.

According to reports on South Africa's economy, there has been a huge shrink that kills any blind believe that Ramaphosa was going to work miracles.

South Africa's economy has suffered a 2.2% contraction and this is only in the first quarter of the year.

READ ALSO: NPA boss Shaun Abrahams denies Zuma’s request to delay corruption trial learned that South Africa's banking stocks have fallen and the rand has weakened again.

This 2.2% shrink is the most South Africa's economy has experienced in 9 years and makes the country doubt that Ramaphosa will in fact be leading the country into a new dawn.

READ ALSO: Top 10 most beautiful daughters of African presidents

According to analysts, president Ramaphosa may have boosted the hopes and dreams of South Africans and even strengthened the country's economic outlook for a while, but things are back to where they started.

Once again the confidence levels are where they were back when Jacob Zuma was still South Africa's leader.

South Africa's business world waits for real change in the country because so far the output has only grown 0.8% - way less than what was hoped for.

The country is undivided in their support of Ramaphosa, as they wait to see what happens in the future.


Of course, this little bit of bad news means that the Reserve Bank will not likely take any chances with the increase of interest rates any time soon.

Only time will tell if Cyril Ramaphosa can actually deliver on his grand promises.

Watch the very informative and funny Top-5: How to be an African president - detailed guide video and see what else is going on at Briefly South Africa's YouTube channel.

How do you feel about president Cyril Ramaphosa's work as leader so far? Message us on our Facebook page and we could share your opinion.

To stay up to date with the latest news, download our news app on Google Play or iTunes today.


Related news
How to make the best slime at home 2019

Easy ways on how to make slime at home 2019

How to make slime at home 2019
Mailfire view pixel