Arab Today, arab today south africas economy in safe hands
Last Updated : GMT 06:28:50
Arab Today, arab today
Arab Today, arab today

South Africa's economy in safe hands

Arab Today, arab today

Arab Today, arab today South Africa's economy in safe hands

Hohannesburg - Xinhua

 South Africa's economy is in safe hands, as can be demonstrated by successful efforts to avoid a downgrade to junk status by international rating agencies, President Jacob Zuma said on Saturday.

Addressing thousands of Africa National Congress (ANC) supporters gathering at the FNB Stadium in Johannesburg for the ANC's manifesto launch for local elections in Gauteng Province, Zuma said Standard & Poor (S&P) Global Rating's decision to maintain South Africa's rating showed that by working together, South Africans can reignite the economy.

On Friday, S&P affirmed South Africa's long and short term foreign and local currency bond ratings at "BBB-/A-3" and "BBB+/A-2" respectively. The foreign currency bond rating remains one notch above sub-investment grade whereas the domestic currency bond rating remains three notches above sub-investment grade.

S&P maintained the negative outlook on the rating, citing concerns about economic growth and warned it could lower the rating by year-end or next year if policy measures do not turn the economy around. Alternatively, S&P said it could revise the outlook to stable if they observe policy implementation that leads to an improved business confidence environment and increased private sector investment and ultimately result in higher levels of growth.

In early May, rating agency Moody's also decided to maintain South Africa's rating, refraining from downgrading the country's sovereign rating to sub-investment grade.

On the upcoming local government elections scheduled for August 3, Zuma said the ANC was the only party that has been transparent in its selection of candidates for the elections.

While opposition parties may point to political battles linked to candidate selections, it shows the democracy within the party, he said.

It's important to remember that robust debate shows a democracy at work, Zuma said.

"We are the only organization in this country that is transparent with its processes on identifying and electing councillors," he said to the cheering supporters, numbered at over 80,000.

"In no way can we have any other party being in charge of Gauteng (Province) instead of the ANC," he said.

"We present the ANC again to the people of Gauteng to say this movement is ready, able and determined to improve municipalities," Zuma said.

"No other party must run Gauteng but the ANC. You have a responsibility to protect the home of this mighty organization" he added.

The ANC's provincial branch has set up a social media campaign with the hashtag "Fill up FNB Stadium" weeks before Saturday's manifesto launch.

ANC Gauteng provincial Chairperson Paul Mashatile called upon all ANC supporters to conduct themselves peacefully and adhere to the Independent Electoral Commission's (IEC) rules in the running up to the elections.

Mashatile told the crowd that the ANC will put the youth high on its priority list.

"For more than 104 years, the African National Congress has remained true to its tradition of being a Parliament of the people. As the ANC, we are here to make a solemn pledge that in the coming five years of local government, we will work even harder to build strong democratic transparent and accountable local government," Mashatile said.

He said that service delivery will be improved in ANC-run local governments.

One of ANC supporters, Johns Maluleke, 30, told Xinhua that he was prepared to die for the ruling party.

He said he expected a resounding victory for the ANC in the elections.

"There is no other party I can join. The ANC is my home," he said.

While conceding that the party had some difficulties, he said, "Even though there are mistakes, I want them to fix them because there is no use leaving the ANC."

Thuli Peta, another ANC activist, said: "The ANC is the only party that can improve living conditions in the townships and solve the problem of illegal dumping sites."

Wearing the ANC's regalia, Peta said her education is guaranteed, with Zuma in charge.

The Gauteng manifesto launch is one of the party's most ambitious event ahead of this year's local elections.

The national manifesto launch had been held in the Nelson Mandela Bay Stadium in Port Elizabeth earlier.

Many of the other provinces have already had their manifesto launches, including the Free State, North West and Northern Cape. 

source : xinhua 

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today south africas economy in safe hands Arab Today, arab today south africas economy in safe hands

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today south africas economy in safe hands Arab Today, arab today south africas economy in safe hands

 



Arab Today, arab today
Arab Today, arab today Youssra depended on colored foam

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today EasyJet, Lufthansa among seven to bid

GMT 06:49 2017 Tuesday ,17 October

EasyJet, Lufthansa among seven to bid
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Fighters celebrate Raqa victory

GMT 06:07 2017 Wednesday ,18 October

Fighters celebrate Raqa victory
Arab Today, arab today Iran's Facebook shuts down

GMT 23:50 2017 Monday ,16 October

Iran's Facebook shuts down
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Sidem reveals plan to improve education

GMT 15:52 2017 Friday ,06 October

Sidem reveals plan to improve education
Arab Today, arab today British actress becomes fifth woman

GMT 18:15 2017 Monday ,16 October

British actress becomes fifth woman
Arab Today, arab today Three killed, 360,000 without power

GMT 05:11 2017 Tuesday ,17 October

Three killed, 360,000 without power
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Mercedes says recalls 400,000 UK cars

GMT 06:56 2017 Tuesday ,17 October

Mercedes says recalls 400,000 UK cars
Arab Today, arab today Britain's Vauxhall to cut 400 jobs

GMT 10:53 2017 Sunday ,15 October

Britain's Vauxhall to cut 400 jobs
Arab Today, arab today Anoshka happy for reactions to her talk show

GMT 12:33 2017 Friday ,13 October

Anoshka happy for reactions to her talk show
Arab Today, arab today India to close colonial-era military farms

GMT 18:49 2017 Monday ,16 October

India to close colonial-era military farms

GMT 10:55 2017 Thursday ,12 October

Safaa Sultan happy for “Love School”

GMT 10:37 2017 Thursday ,12 October

Cara Delevingne accuses Weinstein

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 12:02 2017 Saturday ,14 October

Conservation cutbacks put Brazil's

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 12:25 2017 Saturday ,14 October

Squeeze on UK health gives advanced

GMT 07:02 2017 Sunday ,15 October

German minister sparks uproar

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 03:59 2017 Sunday ,15 October

US mobile carriers Sprint, T-Mobile to merge

GMT 11:37 2017 Saturday ,12 August

Fashion designer reveals her new collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday