JOHANNESBURG - Government maintains that it will not approach the International Monetary Fund for financial assistance.
This is as the country's economy is contracting.
Minister in the Presidency Jackson Mthembu says government is busy finalising a plan that will help grow the economy.
Mthembu briefed the media about the outcomes of Wednesday's cabinet meeting.
The state of the economy and the National Health Insurance Bill were some of the topics on the agenda at the meeting.
“The interactions we have had are around the questions of levels of unemployment and the low economic growth figures in our country,” Mthembu said.
"The results of the Quarterly Labour Force Survey for the second quarter of 2019 released by Statistics South Africa, indicate that the official unemployment rate increased by 1,4-percentage points to 29,0% compared to the first quarter of 2019.
"Cabinet remains committed to addressing structural challenges that continue to affect the performance of our economy and its ability to respond to developmental challenges."
Minister in the Presidency Jackson Mthembu briefs the media on the outcomes of a cabinet meeting.