//Ramaphosa summons Okonjo-Iweala to counter recession

Ramaphosa summons Okonjo-Iweala to counter recession

Former Nigeria Minister of Finance , Dr. Ngozi Okonjo-Iweala has been called by the South Africa’s government to help rescue the nation out of recession.

South Africa is currently experiencing economic downturn as it entered its second recession in two years, and Okonjo-Iweala is the woman the nation has consulted to help rescue it from the shackles of recession.

The economy shrank 1.4 per cent in the fourth quarter, following a revised 0.8 per cent contraction in the third quarter. Agriculture declined 7.6 per cent, transport 7.2 per cent, construction 5.9 per cent, electricity 4 per cent and retail 3.8 per cent, the data showed.

The former minister tweeted on Saturday, saying that she and President Cyril Ramaphosa met, and members of the Presidential Economic Advisory Council in Pretoria to discuss the way forward to defeat recession.

“With members of cabinet of President Ramaphosa, and members of the Presidential Economic Advisory Council in Pretoria discussing sources of growth for the South African economy and win-win economic interactions with the continent,” she tweeted.