Taking path to prosperity is crucial for SA
Pravin Gordhan is right — SA is at a crossroads. We must chose the right path now to avoid incalculable economic damage, writes Lew Geffen
Finance Minister Pravin Gordhan said in his recent medium-term budget speech that SA is at a crossroads politically and economically: "We must look frankly at ourselves and ask what is working for us and what is not, and what needs to change." Gordhan not only hit the nail on the head, but placed on record in Parliament what we all know to be true — that some bad decision-making over the past couple of years has made SA more economically vulnerable than we’ve been in decades. A bloated public service, cronyism and rampant graft have left SA a mere economic shadow of what it should be. Even given the tough global trading conditions, the country has been battered time and time again as the world’s markets have reacted to a merry-go-round of finance ministers, financial scandals, spurious prosecution attempts of respected office-bearers, parastatals in chaos and weak policy implementation. It’s something I collectively call ConZumarism. It’s a vicious cycle; low confidence means less e...
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