Beware of predators imitating critics of economic policy
My most recent column, headlined Medium-term budget policy statement bucks boring trend, was published on the day the National Prosecuting Authority issued summons to the finance minister to appear in court in November. By mid-morning, it was clear the column had been overtaken by events. There is doubt that this week’s medium-term budget policy statement will be no ordinary one, but not for the reasons espoused in the column. There I was, going on about the likely content of the policy statement, when the real action was in the criminal justice system. I expected, as always, that when the statement was delivered, we would witness a well-calibrated, stage-managed process rather than fireworks. I also argued for the limits of fiscal policy in the absence of a clear economic vision from the highest levels of government (that is, beginning with the president) and a capable state.As the case against Finance Minister Pravin Gordhan unfolds, it is worth reflecting on the broader "case" ag...
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