Zuma said, “In the National Development Plan, we set our aspirational target growth of five per cent per year, which we had hoped to achieve by 2019. Given the economic conditions…it is clear that we will not achieve that growth target at the time we had hoped to achieve it. The tough global and domestic conditions should propel us to redouble our efforts, working together as all sectors. In this regard, it is important to act decisively to remove domestic constraints to growth. We cannot change the global economic conditions, but we can do a lot to change the local conditions. Let us work together to turn the situation around. It can be done.”

Some of the points that he highlighted included that South African National Roads Agency (Sanral) had built some of the best roads in Gauteng and in many parts of the country. making SA the envy of many around the globe.

Zuma said the Trans Caledon Tunnel Authority has constructed dams of varied capacities, thus making it possible for people to have access to safe drinking water. He said Transnet had built rail infrastructure which had enabled the country’s mines to move massive bulk of commodities through ports to markets around the globe. The president also said Eskom, in spite of the challenges, still manages to keep the economy going, against all odds.

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He said development finance institutions such as the Industrial Development Corporation (IDC) or Development Bank of Southern Africa and others have provided finance for infrastructure, various industries and agricultural businesses without fail, even in the aftermath of the global financial crisis. Zuma said tourism will invest R100 million a year to promote domestic tourism, encouraging South Africans to tour their country. He said there was a need to empower SMMEs to accelerate their growth. Access to high-quality, innovative business support can dramatically improve the success rate of new ventures.

The president also announced a number of cost containing measures tocurb excessive and wasteful expenditure, but there is still more to be done to cut wastage.

Zuma announced the Nine Point Plan to respond to sluggish growth.

The nine point plan consists of: 

· Revitalisation of the agriculture and agro-processing value-chain;

· Advancing beneficiation adding value to our mineral wealth;

· More effective implementation of a higher impact Industrial Policy Action Plan;

· Unlocking the potential of SMME, co-operativess, township and rural enterprises;

· Resolving the energy challenge;

· Stabilising the labour market;

· Scaling-up private-sector investment;

· Growing the Ocean Economy;

· Cross-cutting Areas to Reform, Boost and Diversify the Economy.