7 June 2017

South Africa: EFF Blames Recession On Lack of Quality Leadership From ANC

The Economic Freedom Fighters (EFF) blamed the recession on the ANC's inability to provide leadership, after first-quarter gross domestic product growth figures indicated that the country has entered into a technical recession. The economy contracted by 0.7% during the quarter, falling short of market expectations of a 1% expansion.

EFF national spokesperson Mbuyiseni Ndlozi said in a statement on Wednesday that South Africa's economy has continued to deteriorate over the last few years. This paints a bleak picture for the future and quality of life for black and poor South Africans in particular. He said the ANC leadership is only focused on "self-enrichment, lies and theft of public funds".

"It is now evident that the government has neither the ideological nor policy response to this depressing state of affairs. Instead of fostering, enhancing and harnessing economic growth, the ANC is busy developing mechanisms on how to loot people's tax money from the fiscus," said Ndlozi.

In a statement, Ndlozi said that the report from Statistics SA shows a concerning shrink in the economy.

He said that South Africans should be worried as this would result in less money being available for various socio-economic needs such as education, social grants and healthcare.

"Under Zuma's administration, South Africa has been auctioned to a foreign family-led criminal syndicate which has siphoned off billions of rands from South Africa's fiscus. Under Zuma's administration, South Africa has been relegated into sub-investment (junk) status and [is] now facing recession," said Ndlozi in the statement.

Ndlozi said that South Africa must be rescued from "a mafia and criminal syndicate that will steal everything and destroy our current and future prospects of a stable society".

According to eNCA, South Africa has experienced eight economic recessions since 1961.

Source: News24

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