Ramaphosa’s plan falls short, says Old Mutual
Johan Els says the recovery plan lacks the ‘firmness and determination’ needed to turn SA’s beleaguered economy around
President Cyril Ramaphosa’s newly unveiled economic reconstruction and recovery plan lacks the “firmness and determination” needed to turn SA’s beleaguered economy around, and bodes ill for the government’s commitment to fiscal consolidation, Old Mutual Investment Group chief economist Johann Els says.
Though the plan included “commendable aspects”, most of the initiatives are not new but rather a repeat of plans previously announced, Els said in a statement on Friday. ..