Economic stability threats must be dealt with – Chamber of Commerce

2014-06-17 13:19

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President Jacob Zuma must address threats to South Africa’s economic stability in his state of the nation address, said the SA Chamber of Commerce and Industry (Sacci).

Sacci CEO Neren Rau said today industrial action, sustainable electricity supply and the credit downgrades were some of the issues requiring high-level attention.

The strike in the platinum sector, the extent of damage wrought upon the economy and criminal elements in a number of strikes raised a serious question on whether open-ended industrial action was still appropriate, he said.

“South Africa simply cannot continue to tolerate a situation where strikes disrupt the social priorities of community safety and job creation.”

He said the business community was anxious to assist government in finding solutions to these problems.

“It remains important to acknowledge the centrality of the private sector in this regard and to support business in growing the economy and creating jobs.”

Rau said additional electricity providers were needed to take the pressure off Eskom.

Positive policy innovations in the energy sector would ultimately improve the country’s credit ratings, which would cheapen its borrowing costs, he said.

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