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Government of National Unity Contributes to Economic Growth of South Africa: Ramaphosa

© Sputnik . Grigory Sysoev / Go to the mediabankSouth African President Cyril Ramaphosa at the BRICS summit business forum in South Africa.
South African President Cyril Ramaphosa at the BRICS summit business forum in South Africa. - Sputnik Africa, 1920, 14.10.2024
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South Africa held parliamentary elections on May 29. According to the results, the country's largest party, the African National Congress, won a plurality of seats in the country's parliament without winning an outright majority. Following the elections, a new cabinet of ministers, the Government of National Unity, was formed in South Africa.
The formation of the Government of National Unity in South Africa contributes to the economic growth of the country, says President Cyril Ramaphosa.

"Just over 100 days have passed since the members of the Government of National Unity were sworn into office. In that time, we have witnessed a marked increase in confidence in the direction of our country…There is also rising confidence in our country’s economic growth prospects," said Ramaphosa.

Cyril Ramaphosa - Sputnik Africa, 1920, 03.07.2024
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The president added that in September, the Bureau of Economic Research and Rand Merchant Bank released a report on the country's economy. It said current business conditions in key sectors of the South African economy can be described as "cautious optimism." The president underscored that one of the factors that has helped improve business confidence in the country is the improved electricity supply.
A New Government of National Unity was formed in South Africa at the end of June this year. It includes ministers representing six political parties, led by the African National Congress.
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