The Steel and Engineering Industries Federation of Southern African (SEIFSA) welcomes the national budget presented by Finance Minister Tito Mboweni in Parliament yesterday.
SEIFSA Chief Economist Chifipa Mhango said it is clear the Government is trying to prioritise support for a rapid return to economic growth amid the COVID-19 pandemic and the associated national lockdown.
He welcomed the attention given to the COVID-19 vaccination programme as it is the only way to build sufficient business confidence that will allow production operations to resume at full capacity, noting that capacity utilisation within the M&E sector is currently around 68%.
See statement attached.
Issued by SEIFSA