We have made the economy an apex priority - Zuma

14 February 2016 - 11:26 By Mpho Raborife

South Africa's economy is government's main priority due to the current global economic climate, President Jacob Zuma said on Saturday.

In his state of the nation address, President Jacob Zuma announced cost-cutting measures.
In his state of the nation address, President Jacob Zuma announced cost-cutting measures.
Image: Trevor Samson
In his state of the nation address, President Jacob Zuma announced cost-cutting measures.
In his state of the nation address, President Jacob Zuma announced cost-cutting measures.
Image: Trevor Samson

"The global economic climate is far from favourable. South Africa has made the economy an apex priority in this current period," Zuma told guests at the Ubuntu Awards gala dinner in Cape Town.

He said government had been meeting with the country's business community to work on placing measures in place which would ignite growth and help the country create more jobs.

"We will be meeting with labour and other sectors as well, as we respond to the persistent low growth, low commodity prices and other challenges facing developing economies."

He said the aim was to build a resilient economy which would enable government to address challenges of unemployment, poverty and inequality. South Africa also wanted to see the growth of economic development on the rest of the continent.

"In this regard, we encourage our business community to invest in the African continent to assist in creating jobs and improving the standard of living.

"We participate in all activities aimed at making Africa trade with itself more," Zuma said.

He said regional integration efforts and the creation of continental free trade area were a step in the right direction, which would contribute "immensely" to Africa's development.

"Indeed, we want an Africa that is peaceful, prosperous and stable for future generations," he said.

Source: News24

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