The South African government has established a Committee of Ministers to look into the impact of the Russian-Ukranian war on food and fuel prices in the country, President Cyril Ramaphosa announced in Parliament.
Responding to oral questions before the National Assembly on Thursday, Ramaphosa said his government was determined to take steps to cushion South Africans with regard to the various price pressures that they are facing.
“As recently as Wednesday, we also discussed it in one of our Cabinet committees,” the president said.
He added: “As a government, we are deeply concerned about the continued rise in prices, particularly arising from the conflict that is ensuing between Russia and Ukraine. We are aware that food prices are going to go up — but not only for us, but for many other countries around the world.”
According to the president, a number of countries are repositioning themselves and taking steps to mitigate against the rising prices.
“We have set up a Committee of Ministers that is going to look at precisely what the impact of the conflict is going to have on us as South Africans – when it comes to fuel, when it comes to food prices, and all this is being given consideration,” Ramaphosa said.
The inter-connectedness of the global economy meant that no country would be spared from the effects of the conflict and its impact on the supply of goods such as oil and wheat, the president said.
NM/jn/APA