Speaker, the ACDP welcomes the briefing by the Minister.
We wish to point out that today's Financial Mail states: "It's a sign of how bad our economic condition has become when economists express relief that real GDP contracted by only 3%."
And we know we still have a long way to go, with the economy expected to contract by a full 2% this year.
For South Africa to emerge from recession, manufacturing and retail must recover, requiring a global recovery to raise demand for our manufactured exports and revival for the stressed South African consumer.
The former appears to be on track if you look at Japan, Germany and France, which are exiting recession, and the US, UK and Europe, which are showing promising signs - they are speaking of "green shoots".
However, the recovery for the South African consumer will take much longer, with household debt levels at record highs and ongoing job losses.
We believe that the measures announced today by the Minister will go a long way. The challenge, however, will be in the implementation. They must be properly implemented; therein lies the challenge. I thank you.