Following the Presidents State of the Nation address (SONA), the South African Chamber of Commerce and Industry (Sacci) said it liked the focus the government is placing on the economy.

Neren Rau , Sacci chief executive officer says, “The tentative proposals for economic policy development presented by President Zuma in the SONA are welcome. The proposals certainly contain the correct sentiments that the economy must take centre stage and obstacles to economic growth be removed.”

In the first quarter of 2014 the country was hit by low growth, with Stats SA announcing that the seasonally adjusted Gross Domestic Product (GDP) at market prices had slumped at an annualised rate of 0.6%.

In his address the President stated, “The economy takes centre stage in this programme. It remains our strong belief that the most effective weapon in the campaign against poverty is the creation of decent work, and that creating work requires faster economic growth.

“We have set a growth target of 5% by 2019. To achieve this, we will embark on various measures and interventions to jump-start the economy.”

Source: SAnews.gov.za