UDM concern about South Africa’s economy

By Mandisi Tyulu
27 May 2009

The United Democratic Movement says it is deeply concerned about the state of the economy.

UDM president Bantu Holomisa says the Reserve Bank should cut interest rates drastically to kick-start the economy. He says high interest rates are frustrating attempts to create jobs.

Holomisa has called for a national economic indaba to develop a strategy that has the support and approval of all South Africans.


The Reserve Bank’s Monetary Policy committee will make an interest rate announcement tomorrow afternoon.