So how is government going to stop the predicted recession and save jobs?
Why - the private sector, of course!
I must admit I'm missing something here.Investment by the private sector in the country's infrastructure development plan has emerged as the core of President Kgalema Motlanthe's plan to save South Africa from slipping into a widely predicted recession.
In tandem, Motlanthe has called on development finance institutions - including the Industrial Development Corporation and department of trade and industry (dti) agencies that provide support for business - to underpin private sector companies that are showing signs, or are already in, financial trouble that would inevitably lead to these companies closing or downscaling staff.
full story from Business Report here
Gov reckons it is ploughing ahead with R600 billion worth of infrastructure development over the next few years and this will ensure our growth moving forward rather than us heading into recession. This would prop up the private sector through its current woes and grow jobs.
Critics have questioned how this can be financed in the current economic climate. Easy! The private sector, of course!
Errmm. Wasn't gov supposed to be propping up the private sector?
Can anyone help me get my head around this?