Government investing massively in SA economy: Ramaphosa

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Deputy president Cyril Ramaphosa was on Wednesday shielded from answering questions on Sudanese President Omar al-Bashir.

PARLIAMENT – Deputy President Cyril Ramaphosa told MPs on Wednesday that South Africa&39;s economy was not the only one struggling.

“Our economy currently faces headwinds – we are not the only county in the world facing economic woes, including China," Ramaphosa said.

"We are not alone. And some of our challenges are domestic – large skills deficit, systemic unemployment, low levels of domestic savings, energy constraints, low levels of fixed investment and labour relation issues.

"On the other hand, there are quite a number of external challenges…these include a plunge in commodity prices, a mineral-based economy, and the commodities that we eke out of our soil are facing great difficulties," he continued.

Ramaphosa said the government is currently pumping a lot of money into the economy.

"The business community must come forward with ideas: put them on the table so that we can see if they have any efficacy so we can inject them in the economic growth.

"And we invite them to invest in our country because the government is investing big bucks in the economy of our country."

While admitting that South Africa has a corruption problem, he told MPs that there are mechanisms in place to prevent corruption.

“The diagnostic report of the National Planning Commission (NPC) indicates that south Africa suffers from high levels of corruption that undermine the rule of law and hinder the development of social transformation of our country.

"We have in place a number of mechanisms to take action against those found responsible."

The NPC is a new government initiative, chaired by Ramaphosa, that is responsible for developing a long-term vision and strategic plan for South Africa.