Economy is growing, despite energy crisis, says Cyril Ramaphosa
On the eve of the ANC’s 55th elective conference President Cyril Ramaphosa in his weekly report on Monday addressed many of the challenges facing SA.
Ramaphosa said: “The energy crisis has caused misery for SA households and businesses. The events of the last few years continue to cast a long shadow, with the global Covid-19 pandemic severely damaging an already struggling economy and public unrest causing the loss of human life and livelihoods.” Ramaphosa outlined specific events of the first half of 2022 that have compounded the challenges facing South Africans. “We experienced devastating floods in parts of KwaZulu-Natal, Eastern Cape and Northwest. The Russia-Ukraine conflict sent shock waves through global energy and food markets, leading to supply chain disruptions and rising prices that continue to be keenly felt, including in SA”.
Ramaphosa added that the government removed many of the regulatory hurdles to encourage greater private investment in electricity generation, far-reaching reforms are in progress to improve the capacity and competitiveness of railways and ports, some corruption cases are now in court, and the state capture commission has concluded its work and presented its final reports to the president.
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