'Government has no plan to get the country out of recession'

Deputy editor at Financial Mail Sikonathi Mantshantsha says what is being called a technical recession in South Africa is actually a recession and there is nothing technical about it.

He says South Africans will have to get themselves out of this mess because there is no plan from the government.

Read: 'South African government needs to start thinking ahead to beat recession'

Finance Minister Nhlanhla Nene said trust the government's plan except not once did he mention what the plan is.

Sikonathi Mantshantsha, deputy editor at Financial Mail

And the ANC, the best it could offer was it was Jacob Zuma's fault and the ANC was nowhere in the past nine years and had nothing to do with this, it was just Jacob Zuma.

Sikonathi Mantshantsha, deputy editor at Financial Mail

Mantshantsha says there is absolutely no plan from the government to get the country out of recession. He says even with the money that President Cyril Ramaphosa is looking for, there was no mention of a plan to get the country out of recession.

Now you can expect a credit downgrade to real junk status and we can expect to pay more for all those things we've been paying for including food and fuel.

Sikonathi Mantshantsha, deputy editor at Financial Mail

To hear the rest of the conversation with Sikonathi Mantshantsha, listen below:


This article first appeared on CapeTalk : 'Government has no plan to get the country out of recession'


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