EFF blasts President Cyril Ramaphosa for South Africa's economic slump

EFF blasts President Cyril Ramaphosa for South Africa's economic slump

The Economic Freedom Fighters have issued a statement, blasting President Cyril Ramaphosa for the slump in South Africa's economy. The party, lead by Julius Malema, feels that they could have done better.

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The EFF feel that they could have done a better job than Cyril Ramaphosa as far as reviving SA's economy is concerned.

Briefly.co.za reported yesterday that the nation's GDP contracted with the biggest drop this decade.

The red berets are fuming, deriding Ramaphosa's attempts to kickstart the economy through foreign investment. In a statement, the party called the president's approach 'fundamentally flawed', blasting him for prioritizing 'globetrotting'.

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READ ALSO: Explainer: SA economy takes a dive, but what caused the slump?

The EFF insists that the capitalist system has been a 'total failure and disaster', vowing to continue proposing their alternative upon their return to Parliament"

“President Ramaphosa’s approach to economic growth is flawed and will lead South Africa towards recession. He should appreciate that globetrotting will never lead to economic growth, there has to be a clearer focus on the domestic economy to boost industrialisation.”

They propose the creation of a State Bank, a commitment to land expropriation without compensation and even the donation of a chunk of the pension fund to 'domestic economic activities'.

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Source: Briefly.co.za

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