COSATU TODAY |
Taking COSATU Today Forward
‘Whoever sides with the revolutionary people in deed as well as in word is a revolutionary in the full sense’-Maoo
Our side of the story
Wednesday, 5 June 2024
‘Building a strong and united COSATU in mobilizing for the ANC electoral victory”
“Build Working Class Unity for Economic Liberation towards Socialism”
Organize or Starve!
Contents
o Workers Parliament: Back to Basics!
o South Africa
o International-Workers’ Solidarity!
Media Alert: COSATU Appointment of National Spokesperson: Ms. Zanele Sabela
Zanele Sabela, COSATU National Spokesperson, 04 June 2024
The Congress of South African Trade Unions (COSATU) is pleased to announce the appointment of its new National Spokesperson, comrade Zanele Sabela from today, 04 June 2024.
Ms. Sabela, is a seasoned communicator and carries a wealth of experience. We look forward to this exciting new chapter in her life and the valuable contributions she will make to the Federation.
She can be reached at zan...@cosatu.org.za and 079 287 5788.
Issued by COSATU
COSATU discouraged by latest GDP figures
Zanele Sabela, COSATU National Spokesperson, 04 June 2024
The Congress of South African Trade Unions (COSATU) is disappointed by the decrease in Gross Domestic Product (GDP) in the first quarter of this year.
Whilst the level of growth we have experienced in recent years has been marginal, we were hopeful it would continue an upward trajectory. It is a pity that the sizable cuts to petrol and diesel prices will provide minimal relief to workers and the economy.
The drop in GDP is a reminder that the economy remains fragile and needs support from the state to grow, investment from the private sector, a well-functioning and resourced state, employment programmes and relief for the unemployed.
Key to growing the economy is accelerating Eskom’s maintenance and generation investments to ensure loadshedding remains a thing of the past; that Transnet and Prasa are secured and fully modernised to enable commuters and products to reach their destinations on time; that local government is sufficiently resourced and capacitated to provide quality public and municipal services the economy and working class communities depend upon; and that the fight against crime and corruption is accelerated.
Similarly, the work being done to remove the obstacles to economic growth and boost local procurement through the sectoral master plans is boosted, including reviving the buy local campaign.
Whilst these must be accelerated, it is critical that the Presidential Employment Stimulus and other employment programmes to help young people enter the labour market be massively expanded, the SRD Grant be raised to the Food Poverty Level and its participants linked to skills and employment programmes.
It is equally important that the election of President Cyril Ramaphosa and the appointment of the 7th administration conclude soon to enable government to come up with a mass stimulus package to spur the economy, slash unemployment and poverty, and deliver quality public services.
Issued by COSATU
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Statistics SA on decrease of Gross domestic product in first quarter of 2024
04 Jun 2024
GDP decreased by 0,1% in the first quarter of 2024
Gross domestic product (measured by production)
South Africa’s gross domestic product (GDP) decreased by 0,1% in the first quarter of 2024. The manufacturing industry decreased by 1,4% in the first quarter of 2024, contributing -0,2 of a percentage point to the negative GDP growth. Five of the ten manufacturing
divisions reported negative growth rates in the first quarter. The motor vehicles, parts and accessories and other transport equipment division and the basic iron and steel, non-ferrous metal products, metal products and machinery division
made the largest negative contributions to the decrease in the first quarter.
The mining and quarrying industry decreased by 2,3% in the first quarter, contributing -0,1 of a percentage point. Decreased economic activities were reported for platinum group metals (PGMs), coal, gold and manganese ore.
The construction industry decreased by 3,1% in the first quarter, contributing -0,1 of a percentage point.
Decreases were reported for residential buildings and construction works.
The agriculture, forestry and fishing industry increased by 13,5% in the first quarter of 2024, contributing 0,3 of a percentage point. This was primarily due to increased economic activities reported for horticulture products.
Expenditure on GDP2
Expenditure on real GDP decreased by 0,2% in the first quarter of 2024.
Expenditure on real gross domestic product decreased by 0,2% in the first quarter of 2024, following an increase of 0,3% in the fourth quarter of 2023.
Household final consumption expenditure decreased by 0,3% in the first quarter of 2024, contributing -0,2 of a percentage point to the total negative growth. Decreases were reported for durable goods, semidurable goods and services.
The main negative contributors to the decrease in HFCE were expenditures on clothing and footwear (-7,0 and contributing -0,4 of a percentage point), transport (-1,3% and contributing -0,2 of a percentage point) and the ‘other’ category (-1,3% and contributing
-0,2 of a percentage point).
Final consumption expenditure by general government decreased by 0,3% in the first quarter, contributing -0,1 of a percentage point. This was mainly driven by decreases in purchases of goods and services and compensation of employees.
Total gross fixed capital formation decreased by 1,8% in the first quarter of 2024, contributing -0,3 of a percentage point. The main negative contributors to the decrease were machinery and other equipment (-1,4% and contributing -0,6 of a percentage point),
residential buildings (-4,3% and contributing -0,5 of a percentage point) and construction works (-2,5% and contributing -0,4 of a percentage point).
There was a R5,5 billion drawdown of inventories in the first quarter of 2024 (seasonally adjusted and annualised value). Large decreases in three industries, namely manufacturing; mining and quarrying; and personal services, contributed to the inventory drawdown.
Net exports contributed positively to expenditure on GDP in the first quarter. Exports of goods and services decreased by 2,3%, largely influenced by decreased trade in pearls, precious and semi-precious stones and precious metals; vehicles and transport equipment
excluding aircraft; chemical products; base metals and articles of base metals; and mineral products.
Imports of goods and services decreased by 5,1%, largely influenced by decreased trade in mineral products; vehicles and transport equipment excluding aircraft; and vegetable products.
Media enquiries:
Felicia Sithole
Deputy Director: Media relations
E-mail: Feli...@statssa.gov.za
Tel: 012 339 2401
Technical enquiries:
Bokang Vumbukani-Lepolesa
Chief Director: National Accounts
E-mail: boka...@statssa.gov.za
Cell: 076 430 0693
Issued by Statistics South Africa
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COSATU Eastern Cape pledges support and solidarity to flood victims in the province
Mkhawuleli Maleki, COSATU Eastern Provincial Secretary, 4 June 2024
The Congress of South African Trade Unions (COSATU) in the Eastern Cape pledges its support and solidarity to the victims of the recent floods that have devastated different parts of the province.
Residents of Nelson Mandela Bay and Buffalo City were among those that were affected. The floods have caused extensive damage to infrastructure. The Karmesh area in Kariega where seven people lost lives was the hardest hit, followed by Wells Estate where two lives were lost. Both areas are in Nelson Mandela Metro Municipality.
One person has perished while 3 064 people have been displaced in Buffalo City Metro, mainly in Duncan village. The municipality requires 2 000 temporary structures as a result. COSATU expresses its heartfelt condolences to those who lost family members during this period.
COSATU commends the intervention by the Eastern Cape Provincial Government led by the Premier, Honourable Lubabalo Oscar Mabuyane, MECs of relevant departments and Mayors of the two metros in assisting the affected communities.
We look forward to speedy interventions that will help the affected to reorganize their livelihood.
We also urge government to investigate and start rolling out initiatives to mitigate climate change as more of these inclement weather episodes are bound to occur if nothing is done.
Issued by COSATU Eastern Cape
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Norman Mampane (Shopsteward Editor)
Congress of South African Trade Unions
110 Jorissen Cnr Simmonds Street, Braamfontein, 2017
P.O.Box 1019, Johannesburg, 2000, South Africa
Tel: +27 11 339-4911 Direct line: 010 219-1348