Economist calls for urgency over SA’s economy rescue plan

Economist Iraj Abedian says all South Africans must adopt a sense of urgency in attempts to rescue the economy from declining further.

This follows President Cyril Ramaphosa‘s reaction to the country slipping into a technical recession, saying that the public should not panic.

Speaking to business and party leaders in Durban, KwaZulu-Natal, during the Thuma Mina Campaign, Ramaphosa gave the assurance that government would soon respond to the matter.

Abedian disagrees with the President’s view that recession is simply a phase that will pass.

“Definitely we shouldn’t relax. The reality is that our economy is literally snowed under a whole lot of structural problems that manifest itself in high unemployment, poverty, a lack of growth. The economy, over the past 10 years has been battered in all its sectors.”

“We’re far from relaxing. We need to show a sense of urgency to deal with these real issues that are not going to go away unless we actively rebuild the economy,” adds Abedian.