A disenchanted country await proceedings to restart
Experts hold out little hope for a #sona2020 that will change the country’s and the international world’s negative sentiment – ‘unless real action takes place, the nation is tired or words – action is now needed’ is the overwhelming feeling from economists and real estate agencies.
The State of the Nation Address is supposed to provide the president with an opportunity to speak to the nation on the general state of the country, to reflect on a wide range of political, economic and social matters within the domestic and global contexts, to account to the nation on the work of government and to set out government’s program of action. This is probably one of the toughest #sona’s President Ramaphosa will address.
He is addressing a nation that faces a downgrading, rising unemployment, Eskom and SAA crisis, plus the ‘not yet spelled out’ land expropriation without compensation.
The euphoria that followed Ramaphosa’s rise to presidency is long gone and he faces a country looking for action to stop the downward slide. Traditionally, the president makes key government announcements during the joint sitting of Parliament – but whatever the pronouncement – action is now required, says experts #sona2020
Herschel Jawitz, CEO of Jawitz Properties believes that South Africans needs to manage their expectations of what President Ramaphosa will deliver in his SONA.
“The weight of expectations sits on the President to fix an economy that is essentially broken and shackled under the strain of enormous debt and institutionalised corruption.”
Jawitz believes that the economy may get worse before it gets better and that there is much to fix before we can even get to the starting line to drive economic growth. This in addition to the challenges he faces within his party and the unions.
The economic challenges, which to a large degree are being mirrored in the residential property market, are about a crisis in confidence. To fix this, South Africans – business and consumers – need to believe that the country and the economy will get better. That is going to require a SONA that promises a little, and most importantly, delivers on those promises however few they may be.