South Africa\u2019s (SA) President Cyril Ramaphosa says the country\u2019s economic recovery is gathering momentum as it has posted growth for four consecutive quarters.<\/p>\n
In his weekly address to the nation, Ramaphosa has also noted a steady reduction in unemployment.<\/p>\n
Statistics SA recent data also shows that levels of poverty and inequality have declined considerably.<\/p>\n
In his weekly address to the nation, Ramaphosa says the local economy is showing signs of a modest recovery and increased resilience, characterized by Gross Domestic Product growth exceeding expectations, improved consumer sentiment and rising capital investment.<\/p>\n
He says confidence in the economy is rising. The stock exchange has been performing well and the average inflation rate is the lowest in two decades.<\/p>\n
But he insists while this is encouraging, there is no time to rest.<\/p>\n
And for the year ahead, Ramaphosa implored his administration to double down on efforts to grow investment and create jobs.<\/p>\n
With the Cabinet holding its annual Lekgotla on Wednesday to outline the actions that will be taken across government, the president said they must work to translate this into long-term gains for the economy.<\/p>\n
The Rand advanced 0.6% against the Dollar, trading at its highest level in over three years.<\/p>\n
<\/p>\n
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