Gigaba's 14 point plan is encouraging but we've been here before - economist

Finance Minister Malusi Gigaba is unveiling his new 14 point plan at the Johannesburg Stock Exchange (JSE) on Thursday, where he is expected to reveal how to grow South Africa's economy.

The Minister said that the economic situation means government has to make difficult choices ahead of his medium-term budget policy statement.

I am keen that we should achieve a higher growth than we did last year as a solid platform for us to make a genuine effort toward achieving 3% growth going up to 6% and sustaining our growth at that high notch in order for us to fight corrup...fight unemployment, poverty, and inequality.

Malusi Gigaba, Finance Minister

Here is what he said:

EWN reporter, Thando Kubheka, says the finance minister raised concerns over the growth of state owned companies, mentioning among others Eskom and SAA.

He says policy and uncertainty continue to be a concern for this economic stake holders.

Thando Kubheka, EWN Reporter

He spoke about fiscal policy, that it needs to be finalised in order to have sustainable wage agreement.

Thando Kubeka, EWN Reporter

Economist at Nedbank, Isaac Mashigo says Finance Minister's plan to grow the economy is very encouraging but "we've been here before particularly on state owned companies".

I do not believe that we getting full value out of every rand spend by state owned enterprises...

Isaac Mashigo, Economist at Nedbank

Mashigo says all that Gigaba is saying all boils down to implementation. He says that the country had good policies before that were never implemented.

We hope from now on we will see better implementation and better coordination between different departments and we will bear the fruits of these policies.

Isaac Mashigo, Economist at Nedbank

He says he was disappointed that the minister of minerals and energy was not present at this briefing to give clarity about his revisions of the mining charter.

Deputy chair of Business Leadership SA, Bonang Mohale says he is encouraged by the minister's genuine attempt to understand what needs to be done.

He says the Minister's 13 point plan seeks to address issues that are affecting this country, especially the technical recession.

Business leadership South Africa is genuinely encouraged by the utterances that pour from the lips of the finance minister.

Bonang Mohale, CEO at Business Leadership South Africa

To hear more of this discussion, listen below:


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