Without a growth strategy, SA will not get the revenue it requires for job creation nor be able to explore the potential for economic inclusivity, Finance Minister Pravin Gordhan said on Thursday. Gordhan was briefing members of four parliamentary committees on the 2017-18 budget he tabled in Parliament on Wednesday. "The low growth trap we find ourselves in is not helping," he said. "If the growth engine does not kick in, then transformation becomes more difficult." Transformation had to mean improving the lives of the majority and not the enrichment of the few, Gordhan noted, adding that transformation also meant de-concentrating SA’s very concentrated and less efficient economy, and that a new, restructured economic model was needed. Gordhan was questioned about the reliability of Treasury's growth forecasts. He conceded that Treasury "tends to be a little optimistic but we are in a very volatile environment." He noted that Treasury had the opportunity to revise its forecasts in ...
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