Government stimulus package to be announced soon
Nomvula Mokonyane, the Minister of Communications.
PARLIAMENT – A stimulus package to boost the South African economy will be announced “within a short period of time”, Communications Minister Nomvula Mokonyane said on Thursday.
Briefing the media on Wednesday’s fortnightly cabinet meeting, Mokonyane said a host of measures would be taken in an attempt to guide the country out of a technical recession following an announcement by Stats SA that the economy contracted by 0.7 percent in the second quarter of the year.
“We will be presenting it [stimulus package] within a short period of time and that would also be followed by information on our areas of investment, not only foreign directed investment but also promotion of domestic investment and the collaboration has already started to unfold,” she said.
“We will be going into another important meeting of government to look at costing of all these measures being put together.”
To support the tourism sector, the government committed to “a complete overhaul of the visa system”, which has in cases hampered tourist entries into the country.
Key mining legislation would also be finalised to support the mining sector.
– African News Agency (ANA), Editing by Moses Mudzwiti
Source: iol.co.za
