FILE PICTURE: Malusi Gigaba. Picture Nigel Sibanda
Finance Minister Malusi Gigaba is expected to brief the media this morning at the Johannesburg Stock Exchange in Sandton to outline government’s inclusive economic growth action plan.
This comes as the country is currently in a technical recession after growth contracted 0.7% in the first quarter of this year and two leading global credit ratings agencies downgraded SA to junk status following President Jacob Zuma’s controversial Cabinet reshuffle on March 30.
To add to the country’s economic troubles, last month the unemployment rate spiked to a 13-year high of 27.7%.
The briefing is scheduled to begin at 11.30am.