'Everything Ramaphosa has done on the economy has not worked'
Centre for Economic Development & Transformation's economist and director Duma Gqubule says everything that President Cyril Ramaphosa has done for the economy since last year has not worked.
Ramaphosa is set to present his 2019 State of the Nation Address (Sona) on Thursday night with a lot of expectations surrounding the economy, including job creation.
Giving his take on Ramaphosa's work so far, Gqubule says South Africa is sitting with a massive crisis.
Everything that the president has done on the economy has not worked. We have had five quarters since the beginning of last year and three of them have been declining.Duma Gqubule, Economist and director - Centre for Economic Development & Transformation
Our unemployment rate now is about 42% for black Africans, 46% for black African women and 48% in the Eastern Cape. We are sitting with a massive crisis, our state owned enterprises are collapsing.Duma Gqubule, Economist and director - Centre for Economic Development & Transformation
We need a decisive shift from what is the current policies of the government.Duma Gqubule, Economist and director - Centre for Economic Development & Transformation
Gqubule says a fiscal stimulus is needed of about R500bn and a monetary stimulus with a different kind of Reserve Bank.
We need a different kind of Reserve Bank that is going to have compassion towards the suffering of millions of South Africans and start cutting interest rates aggressively.Duma Gqubule, Economist and director - Centre for Economic Development & Transformation
We cannot continue like this, at some point you have to bite the bullet and make the tough decisions.Duma Gqubule, Economist and director - Centre for Economic Development & Transformation
Click on the link below to hear more from Gqubule....
This article first appeared on 702 : 'Everything Ramaphosa has done on the economy has not worked'
Eight candidates were nominated from a list of 19 individuals.Read More
Numsa spokesperson Phakamile Hlubi-Majola and SAA interim chief financial officer Deon Fredericks discuss looming retrenchments.Read More
Advocate Andy Mothibi Head of the Special Investigation Unit explains the actions being taken.Read More
Western Cape Provincial Minister of Finance and Economic Opportunities David Maynier outlines options being proposed.Read More
The Democratic Alliance Western Cape leader says he is stepping back for now.Read More
Human Capital Development executive Edith Leeuta weighs in on an unemployed graduate's struggle to find work.Read More
Jacob Zuma spent a week in hospital for an undisclosed condition and was unable to appear before the state capture commission.Read More
News24 journalist Mandy Wiener outlines her interview with Hawks boss, Lieutenant General Godfrey Lebeya.Read More
DA parliamentary leader John Steenhuizen says South Africa's stance on LGBTI human rights should be clear and unambiguous.Read More
NSFAS administrator Dr Randall Carolissen says it will likely only recover R1 billion of R7 billion in irregular expenditure.Read More