NO GROWTH SPUR
Ratings agencies sceptical of Malusi Gigaba’s ‘old’ plan
Finance Minister Malusi Gigaba’s action plan has been widely criticised by economists for not promoting growth
25 July 2017 - 06:00
Finance Minister Malusi Gigaba’s action plan for stimulating growth in SA is not enough to instil confidence in ratings agencies, analysts say. Gigaba tabled the plan two weeks ago in response to the recession in SA, promising reform of state-owned enterprises (SOEs), fiscal prudence and a new dialogue on the Mining Charter. The plan has been widely criticised by economists for not promoting growth. On Monday, Argon Asset Management economist Thabi Leoka said the plan was operational, but did little to stimulate growth. "There are solid timelines and it’s achievable but it isn’t a growth-inducing plan."
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