UNITED DEMOCRATIC MOVEMENT

MEDIA RELEASE

 

DECLINING GROWTH CAUSE FOR CONCERN

STATEMENT ISSUED BY DR GERHARD KOORNHOF, MP
UDM SPOKESPERSON FOR FINANCE

The announcement yesterday by Statistic SA that GDP growth for the first quarter of this year was only 2% is cause for concern. Not only is growth down from the 3.2% of the previous quarter, it will also be virtually impossible to reach the government’s 3.5% target for this year.

The UDM has said before that a minimum growth rate of 4% is the bare minimum for South Africa to turn around the unemployment crisis. To make matters worse there is continued pressure on citizens in the form of escalating fuel price costs. All of these factors translate into increasing suffering for the poorest of the poor.

Enquiries:
Dr Gerhard Koornhof, MP
UDM Spokesperson for Finance

Pretoria                                                                                                                     30 May 2001