Facebook Twitter Instagram
    Trending
    • Zoom Cuts 15% Of Staff In Post-Pandemic ‘Reset’
    • Harry And Meghan To Be Questioned In Samantha Markle Defamation Case
    • LeBron James Breaks NBA All-Time Scoring Record
    • Earthquake: Syrian Government Asks For Help From EU
    • INEC Under Fire For ‘Liking’ Twitter Post Calling Peter Obi ‘Opportunist’
    • Old Naira: Supreme Court Suspends CBN’s Feb10 Deadline
    • UNBELIEVABLE! Osimhen Breaks Ronaldo’s Serie A Record
    • JAMB Cancels UTME Registrations Of 817 Candidates Over Impersonation
    Facebook Twitter Instagram YouTube
    Sync News NigSync News Nig
    • NEWS
      • Business & Economy
      • Politics
      • Banking & Finance
      • Tech & Innovation
      • Health
      • World
    • BRAND NEWS
    • SPORT
      • Football
      • Boxing
      • Basketball
    • ENTERTAINMENT
      • Celebrities
      • Music
      • Movies
    • FEATURED
    • TRAVELS & LIFESTYLE
      • Beauty &Health
      • Fashion
      • Food, Travel, Arts & Culture
      • Relationships & Weddings
    • SYNC TV
    Sync News NigSync News Nig
    Home»News»Africa»South Africa’s Ramaphosa Warns Of ‘Tough Times Ahead’
    Africa

    South Africa’s Ramaphosa Warns Of ‘Tough Times Ahead’

    Deborah AdegokeBy Deborah AdegokeJune 22, 2020No Comments2 Mins Read
    Share
    Facebook Twitter LinkedIn Pinterest Email

    South African President Cyril Ramaphosa on Monday warned “tough times” lie ahead as the continent’s most industrialised country braces for the economic fallout from Its anti-coronavirus measures.

    Ramaphosa imposed a strict lockdown on March 27 to try to limit the spread of COVID-19 and prepare hospitals for an expected surge in cases.

    But the move has cost the economy dearly. South Africa was already in recession and the unemployment rate heading towards 30 percent when the virus arrived.

    Since last month the government has started loosening the lockdown to enable business activity to gradually resume.

    “For a country such as ours, which was already facing an unemployment crisis and weak economic growth, difficult decisions and difficult days lie ahead,” Ramaphosa said in his weekly newsletter.

    “There are tough times ahead. There are no quick-fixes and we have to be realistic about our prospects,” he said.

    “We would urge that the difficult decisions to be taken are taken with care and with due regard to balancing the sustainability of companies and the livelihoods of workers,” he urged as companies have in recent days started announcing layoff plans.

    The national statistics agency releases the first-quarter unemployment figures on Tuesday.

    Finance Minister Tito Mboweni on Wednesday is due to present a revised budget after government announced an unscheduled 500-billion-rand ($29.7-billion, 26-billion-euro) economic stimulus and social relief package, including 100 billion rand for job protection.

    (AFP)

    Cyril Ramaphosa South Africa
    Share. Facebook Twitter Pinterest LinkedIn WhatsApp Reddit Tumblr Email
    Deborah Adegoke

    Related Posts

    Zoom Cuts 15% Of Staff In Post-Pandemic ‘Reset’

    February 8, 2023

    Earthquake: Syrian Government Asks For Help From EU

    February 8, 2023

    INEC Under Fire For ‘Liking’ Twitter Post Calling Peter Obi ‘Opportunist’

    February 8, 2023

    Leave A Reply Cancel Reply

    Recent Posts
    • Zoom Cuts 15% Of Staff In Post-Pandemic ‘Reset’
    • Harry And Meghan To Be Questioned In Samantha Markle Defamation Case
    • LeBron James Breaks NBA All-Time Scoring Record
    • Earthquake: Syrian Government Asks For Help From EU
    • INEC Under Fire For ‘Liking’ Twitter Post Calling Peter Obi ‘Opportunist’
    Recent Comments
    • buy cheap neurontin on TAJBank Launches e-Commerce Business ‘TAJMall’
    • FUCK SHEMALES on TAJBank Launches e-Commerce Business ‘TAJMall’
    • TRAVESTIS BAHIA on TAJBank Launches e-Commerce Business ‘TAJMall’
    • vivo slot on Ondo Deputy Governor Officially Resigns From PDP
    • lina on Edo 2020: Court Bars Gov. Obaseki From Participating In PDP Primary
    Archives
    • February 2023
    • January 2023
    • December 2022
    • November 2022
    • October 2022
    • August 2022
    • July 2022
    • June 2022
    • May 2022
    • March 2022
    • February 2022
    • January 2022
    • December 2021
    • November 2021
    • October 2021
    • September 2021
    • August 2021
    • July 2021
    • June 2021
    • May 2021
    • March 2021
    • December 2020
    • November 2020
    • October 2020
    • September 2020
    • August 2020
    • July 2020
    • June 2020
    • May 2020
    • December 2018
    Meta
    • Log in
    • Entries feed
    • Comments feed
    • WordPress.org
    Facebook-f Twitter Instagram
    • Banking & Finance
    • Business & Economy
    • Health
    • Politics
    • World
    • Tech & Innovation

    Copyright ©, 2020-2021 syncnewsng.com. All Rights Reserved