Thirty-six days after the economy slipped into recession the Minister of Finance, Malusi Gigaba, has finally announced an “inclusive growth action plan”, comprising of 14 “action items”, 45 “interventions”, spanning seven departments, with specific timelines, for South Africa.
The Minister ramped up expectations, during the past few weeks, creating the impression that there would be a “big announcement”, not least by suggesting that the action plan would be aimed at getting the economy to grow at “6% or more” in South Africa.
However, the fact is that the “inclusive growth action plan” is a huge, though not unexpected, disappointment because it does not include one big, bold, new idea capable of restoring business confidence and stimulating private sector investment in South Africa.
The Minister simply does not have the political will, or the political space, given the ongoing “civil war” within the governing party ahead of the ANC’s 54th National Conference 2017, to implement the structural reforms necessary to boost economic growth and create jobs in South Africa
Source: Democratic Alliance