It emerged yesterday that the South African economy shrank by 0.7 percent into recession.
Statistics South Africa (Stats SA) affirmed that an acceptable measure was used in determining the nation’s current economic status.
The measure according to Stats SA is two or more consecutive quarters of negative growth (real GDP quarter-on-quarter).
Reacting to the development, the Economic Freedom Fighters (EFF) upheld that the recession was triggered by the ruling party’s “collective and individual incapability to provide sound leadership.”
EFF urged South Africans to unite towards rescuing South Africa from ANC’s leadership offering the following as reasons why SA recession can only get worse.
1. ANC Is Busy Developing Mechanisms To Loot Tax Money
The Fighters specified that salvation wouldn’t come from the African National Congress. The ruling party, EFF said, is busy. Not with activities that will foster, enhance and harness economic growth. But busy “developing mechanisms on how to loot people’s tax money from the
The ruling party, EFF said, is busy. Not with activities that will foster, enhance and harness economic growth. But busy “developing mechanisms on how to loot people’s tax money from the fiscus.”
For the Fighters, the only way out is to do away with the ANC. The party indicated that South Africa’s economy has been deteriorating for the last few years.
Now, EFF thinks it’s evident the government has neither the ideological or policy response to the depressing state of affairs.
2. South Africa Is Now Led By Criminal Syndicate
The Fighters said it’s also evident Zuma’s administration has auctioned South Africa to a foreign family of criminal syndicate which has syphoned off billions of Rands from the country’s fiscus.
This is a major factor that enabled the country’s relegation to junk status and now, recession. EFF expressed. With that, the Fighters urged South Africans to be very worried about the direction of the country.
“…The ANC will degenerate the economy further and this will mean reduced quality of life to already compromised standard of living for a majority of people, in particular, black and poor South Africans.
“The people of South Africa must realise that we should soon rescue our country from a mafia and criminal syndicate that will steal everything and destroy our current and future prospects of a stable society,” stated the Fighters.
3. Everything Is Shrinking
EFF pointed out that everything, expected to aid economic growth in the country, is shrinking.
“…The base from which the State could collect taxes in order to finance education, healthcare, social grants, infrastructure and many other basic socio-economic needs is getting smaller.
“All of this is due to incapable and directionless political leadership, which only focuses on self-enrichment, lies and theft of public funds.”
Things will get worse and remain severe for a very long, long time if South Africans fail to rise up against the ANC, EFF warned.