JSE welcomes President’s stimulus plan
SANDTON – The Johannesburg Stock Exchange applauds President Cyril Ramaphosa’s proposed stimulus package which is set to reactive the economy and prioritise the fight against covid-19.
The Johannesburg Stock Exchange (JSE) has applauded President Cyril Ramaphosa’s fiscal stimulus for the economy.
As announced by the president on 21 April, the package valued at R500-billon is aimed at stimulating the economy while prioritising the fight against the novel covid-19 virus.
Highlights from tonight's presidential address: pic.twitter.com/muZyLS6RK6
— Sandton Chronicle (@Sandton_News) April 21, 2020
According to group CEO Leila Fourie, the JSE believes that the additional measures in the stimulus package will be useful in enhancing consumer and business confidence through economic and structural mechanisms.
“The breadth of coverage of the fiscal stimulus across a multitude of sectors is practical for both building our economy and prioritising the human impact; it is comprehensive and drives medium term growth,” she said.
Fouire added that this will encourage growth and drive business regardless of the challenges presented by the country’s fiscal deficit and recent ratings downgrade.
“What will be crucial now is the administration and surety that funds will reach intended recipients and provide relief to our most vulnerable businesses and citizens of our country,” concludes Fourie.
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