SA's economy in state of emergency, says the ANC
This came to light as the party's National Executive Committee (NEC) concluded its four-day meeting at the Germiston Civic Centre on Monday.
ALSO READ: ANC wants communities to participate in councillor nominations
The ANC's highest decision-making body in between conferences has been discussing all issues from the State of the Government of National Unity (GNU), United States (US) tariffs and local election preparedness.
In his closing address, ANC President Cyril Ramaphosa said the organisation remains concerned about the State of the economy.
'We also characterise, the state of our economy as being in a state of emergency that requires drastic action. Our focus on an inclusive and resilient economy is important as we begin this month of August, women's month. The financial and economic inclusion of women is vital to the empowerment of women in our country with the view of achieving gender equality.'
ANC DECRIES US 30% TARIFF ON EXPORTS
The ANC said the ongoing debacle over United States (US) tariffs shows the need for the country to build a resilient economy and expand to other markets.
The US has slapped South Africa with a 30% tariff on all its export goods. The tariffs are set to officially come into effect on Friday unless a deal can be reached with Washington.
The ANC NEC has described the US tariffs as punitive; however, it has not said what South Africa is being punished for.
Ramaphosa said the party is hopeful a deal can be reached with the country's second largest trading partner.
However, Ramaphosa said government has not put all its eggs in the US basket.
'At the same time, we must invest in the implementation of the African Continental Free Trade area in diversifying our export markets. DTIC (Department of Trade, Industry & Competition) is already working on a number of interventions to try and support and assist various exporters of products that come from our country.'
Ramaphosa has acknowledged setting up new export value chains will take time.
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