Business 13.7.2017 09:52 am

Gigaba to brief the media on govt’s economic growth action plan

FILE PICTURE: Malusi Gigaba. Picture Nigel Sibanda

FILE PICTURE: Malusi Gigaba. Picture Nigel Sibanda

The briefing comes on the back of a technical recession and a spike in the unemployment rate to a 13-year high of 27.7%.

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.

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