Ramaphosa: 250 000 jobs created as South Africa's economy shows signs of recovery

PRESIDENT Cyril Ramaphosa has highlighted signs of economic recovery in South Africa, pointing to improved employment figures, government finances, and structural reforms as the country prepares to host the first G20 summit on African soil.

- HOPE NTANZI

PRESIDENT Ramaphosa says South Africa is showing early signs of economic recovery as unemployment falls, government finances improve, and structural reforms accelerate ahead of the first G20 summit on African soil. | JAIRUS MMUTLE GCIS

(JAIRUS MMUTLE GCIS)

In his weekly letter to the nation, Ramaphosa said the latest data “point to the green shoots of an emerging economic recovery” despite recent economic challenges.

The president noted that unemployment fell to 31.9% in the third quarter, down from 33.2% in the previous quarter, with nearly 250 000 more people employed, including around 130 000 in construction.

Ramaphosa described these developments as encouraging and said the Medium Term Budget Policy Statement delivered last week “points to a sustained turnaround in government finances,’ with the country on track to achieve a third consecutive primary budget surplus.