EFF on recession: Economy will suffer under Ramaphosa, Mboweni

EFF on recession: Economy will suffer under Ramaphosa, Mboweni

- The Economic Freedom Fighters have issued a scathing response to the news of a technical recession

- The party has condemned both President Cyril Ramaphosa and Finance Minister Tito Mboweni for SA's economic woes

- The EFF is adamant that the economic crisis will only worsen under their leadership

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The Economic Freedom Fighters have met the news of a technical recession with scathing condemnation.

In a statement issued by the party, both the President and Finance Minister were targeted:

"The people of South Africa should soon wake up to the reality and indisputable fact that the neo-liberal policies of Cyril Ramaphosa and the austerity measures imposed by Tito Mboweni will continue to worsen the economic conditions in South Africa.
"The neoliberalism of Ramaphosa and Tito Mboweni are dangerous and will worsen unemployment, deepen poverty, increase inequalities and narrow the base from which the State should collect revenue for the provision of basic services."

The Red Berets claim that external forces cannot be blamed for the current situation:

"The failure to grow the economy by the current representatives of the white capitalist establishment cannot and should not be blamed on external forces, but on their own incapacity to drive local economic activities and create jobs."

READ ALSO: President Ramaphosa addresses South Africa over technical recession

The party insists that they have submitted solutions to the problem at hand on numerous occasions:

"On various occasions, the EFF has tabled comprehensive economic growth plans and policies and these include a land redistribution plan which will guarantee access to land by all South Africans, not a few descendants of colonial settlers.
"Our immediate submissions include proper usage of state procurement as a driver for local industrialisation and heightened economic activity. The EFF made submissions on the usage of trade policy to protect strategic local industries."

The EFF predicts that the current leadership will only worsen the issues facing the country:

"Despite these submissions and many others, the neoliberals are hellbent on imposing austerity measures and staying true to neoliberalism, which is at the centre of a shrinking economy. The people of South Africa should know that the direction taken by South Africa under Ramaphosa and National Treasury under Tito Mboweni will cause further recession, job losses, shrinking revenue base and deepened poverty."

Briefly.co.za reported that President Cyril Ramaphosa noted that a dip in consumer confidence, load-shedding and a slump in the agriculture sector had all contributed to the situation.

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Source: Briefly.co.za

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