President Cyril Ramaphosa to announce economic measures to cushion fuel and VAT hikes

He is expected to announce the measures in two week’s time after he reportedly said: “Our people reside far from workplaces and that simply means having to spend more on traveling and fuel costs. But also small businesses are the engine of growing the economy and job creation‚ which are the objectives of this administration.”

Parliamentary Committee on Economic and Business Development chairperson Mandla Rayi welcomed Ramaphosa’s announcement saying that it was an “extraordinary step” to help South Africans.

Rayi said: “It has never happened that a head of state will go this far and this kind of commitment to a nation is most welcome. This is appreciated, especially if one looks at the impact these fuel hikes will have on small struggling businesses. The fuel price hikes were likely to impact negatively on economic growth and menial jobs.”

On 6 July, Ramaphosa addressed the BRICS Stakeholders Round-table meeting attended by South African business people at the Sefako Makgatho Presidential Guest House in Pretoria, to prepare for the upcoming BRICS Summit scheduled for 25 – 27 July 2018 in Johannesburg.

He also continued his rollout of the #ThumaMina programme in KwaZulu-Natal over the weekend where he also addressed issues around the Ingonyama Trust and promoting a clean South Africa.

The continued fuel hikes and increased VAT have pushed up transport and food prices and South Africans were not afraid to share their disdain on social media platforms in the past week. Some have even called for a National shutdown to protest these hikes.

 

  AUTHOR
Caxton Central

Latest News

COMMENTS

Top
Recommended Story x
Petrol prices to increase again at the end of May