Covid-19: SA’s economy and society will be fundamentally changed once pandemic is eradicated – Nedlac
Nedlac agreed that the pandemic was a health, economic and social crisis of an unprecedented scale with far-reaching consequences for the economy.
President Cyril Ramaphosa and social partners representing the National Economic Development and Labour Fund Council (Nedlac) agreed that the health and well-being of all South Africans should be the overriding concern of all sectors of society at this time.
Ramaphosa participated in a virtual meeting with Nedlac representatives from government, business, labour and the community on 17 April to discuss deepening cooperation in the face of the coronavirus pandemic.
According to a statement by the presidency, Nedlac agreed that the pandemic was a health, economic and social crisis of an unprecedented scale with far-reaching consequences for the economy.
#COVID19 | President @CyrilRamaphosa chaired a virtual meeting of the National Economic Development and Labour Council this morning from his private residence in Johannesburg. #NEDLAC #CoronaVirusSA pic.twitter.com/eYFuOueTQC
— Presidency | South Africa 🇿🇦 (@PresidencyZA) April 17, 2020
They also agreed to intensify the public health response to the pandemic.
Social partners agreed that once the pandemic has been eradicated, the country’s economy and society will be fundamentally changed. They said that it is therefore imperative that South African citizens and businesses be protected from this adverse impact.
Nedlac meeting participants agreed unanimously that they need to give their full support to the proposed economic recovery measures and social support to the country’s most vulnerable.
President Ramaphosa said, “In bracing ourselves for the worst economic fallout, South Africa is not alone. By most predictions, there will be a global economic slowdown this year, and it is inevitable that emerging markets and developing country economies will be negatively impacted.”
The statement said that while recognising the need to resume economic activity soon, Nedlac partners expressed their appreciation for government’s position that lifting the lockdown too abruptly could have dire consequences.
Meeting members agreed that a risk-adjusted approach was necessary to determine the country’s response.
Social dialogue at work #Nedlac #Covid_19 https://t.co/UQky7fUMC0
— Nolwazi Mthembu (@nolzito) April 17, 2020
Ramaphosa expressed appreciation on behalf of government for the efforts made by social partners of Nedlac to contribute to South Africa’s economic and social recovery.
He said that there was a need for business and labour to deepen cooperation to ensure social protection for workers during lockdown.
The meeting unpacked ways to improve the provision of social support to the vulnerable members of society. They also considered suggestions for scaling up financial support to vulnerable households and agreed that there was a need for greater consistency from financial institutions such as banks for providing relief to heavily indebted clients.
Partners agreed to continue uniting in their efforts to address issues with the implementation of various support and relief measures.
Ramaphosa said, “At a period of such difficulty for South Africa, it is immensely gratifying that we are able to engage openly and constructively at Nedlac. This structure has served us well throughout the democratic era and will continue to play a key role in bringing social partners together.”
