Ramaphosa Tells His Advisory Council To Develop An ‘Economy For The Future’

Riyaz Patel

President Cyril Ramaphosa has addressed the first gathering of his Presidential Economic Advisory Council at Tuynhuys in Cape Town, saying the meet comes at a difficult time for the economy.

He said South Africa’s economy is not performing at the same level as other upper middle-income countries, with many key indicators “confirming the extent of the economic malaise.”

Ramaphosa said he’s hoping the Council will direct its “efforts towards practical solutions to the complex and pressing challenges our economy faces,” and pointed to key priority areas which require urgent interventions.

The uneven income distribution and wealth patterns continue to deepen poverty levels. “Poverty is overwhelmingly black… and has a disproportionate impact on children, especially those living in rural areas, and people with little or no education.”

He added that nearly half of the population are considered chronically poor at the upper bound national poverty line.

Ramaphosa said