He spoke in Parliament this week Wednesday.
Deputy President DD Mabuza has suggested that we are currently not in a technical recession but rather the problem is the SA economy refusing to grow.
He was answering oral questions this week Wednesday in the National Assembly.
He said those who were saying the country was in recession didn’t take “a very comprehensive picture”.
Sats SA a week ago said the economy had entered its first technical recession in nine years and GDP went down by 0.7% in the second quarter of 2018, meaning from April to June.
“As a country‚ we’ve noticed the current decline,” he told MPs on Wednesday afternoon.
“And I don’t probably agree with those who are saying we are in technical recession‚” said Mabuza.
He said as government they have taken a “comprehensive picture” and were taking it quarter by quarter and they were seeing an economy that was refusing to grow‚ not that it had entered recession.
“We’ve not taken the overall statistics over a period. But I’m confident that as government we’re going to reverse this tide and I am sure President Cyril Ramaphosa will make a few announcements on how governments wants to intervene in this current situation because it’s our responsibility to respond to this situation,” the deputy president said.
He also rejected suggestions from Cope and DA MPs that we were like this because of the issue surrounding land expropriation without compensation.
“I want to dismiss the fact that land expropriation accounts for this situation,” he said.
“Or that it is scaring investors. I don’t agree,” Mabuza said.
“And we’ve said again and again that land expropriation is going to happen in a very responsible way.
“We’re not intending to disrupt our agricultural production… I don’t think we should be pessimists and run away from the facts we should address.”
(edited by MLM)
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