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Cape Town – President Jacob Zuma painted a rosy picture of South Africa’s economy during question time in the National Assembly on Thursday.
He acknowledged South Africa was affected by the global economy and foreign direct investment (FDI) inflows slowed by US$8.3bn (R105.9bn) in 2013, but claimed it was not all bad news.
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“South Africa was again the largest recipient of FDI in Africa. South Africa also remains an attractive investment destination as per the Ernst & Young Attractive Destination survey.
“Multinationals have affirmed South Africa as a regional manufacturing hub. Many companies have invested in expansions, upgrades and new plans in South Africa. However South Africa cannot be complacent.”
He said the country had interventions to boost investment in science and technology, water and sanitation, transport infrastructure, broadband roll-out, and state-owned enterprises.
"Government is also committed to improving the investment climate and enhance the ease of doing business.”
His answers were interspersed with periods of bickering in a fractious question-and-answer session. At one point some members of parliament chanted “fight, fight, fight”.
Democratic Alliance parliamentary leader Mmusi Maimane pointed out unemployment currently stood at 34.9% Of this figure, two-thirds were young South Africans.
“Mr President, it has become clear in 2011, when you came in, you told South Africa you would create five million jobs. Instead we have lost 1.7 million. Other African states are growing at levels higher than us. It is clear to me we face a job crisis," Maimane said.
He said Economic Development Minister Ebrahim Patel kept changing his plans "from one day to the next" and should be fired.
“Minister Patel is keeping his job,” Zuma said to applause.
