Picture: Waldo Swiegers

JOHANNESBURG - National African Federated Chamber of Commerce and Industry (Nafcoc) on Tuesday noted the GDP figures that were released, which indicates a slight improvement in the economic performance of 2.5% in the second quarter of 2017/18 fiscal year. 

Nafcoc Chief Economist, Landiwe Mahlangu said "This growth is too little and too late and we urge the government to aggressively pursue complementary interventions to sustain this growth asserted”.

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"The unemployment rate still remains high and unchanged at 27,7 % and with over 9 million people living below poverty line, radical economic interventions are the only options available" said Mahlangu. While these figures symbolical end the technical recession that has visited the country in the two prior quarters, the economy was still structurally vulnerable.

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Therefore authorities should and must take reasonable and prudent action to restore business and consumer confidence to ensure this recovery is sustainable.

- BUSINESS REPORT ONLINE