Finance Minister Malusi Gigaba reiterated the Treasury’s commitment to the fiscal framework and the National Development Plan (NDP). At a briefing at the Government Communication Information System (GCIS) office in Pretoria on Thursday, Gigaba said there were interventions to stimulate inclusive growth, in the light of the recent credit-rating downgrades and the recession. Gigaba, however, did not outline any concrete interventions. He said that owing to the GDP contraction of 0.7% in the first quarter of 2017, the Treasury’s 2017 growth projection of 1.3% might not be realised. "This continues the trend of low growth over the last several years, undermining our progress in significantly reducing inequality, unemployment and poverty, which fundamentally disadvantages a large portion of our population, and is the cause of social instability." He added that all three ratings agencies had raised the issues of the slow pace of growth, enhancing reforms, the growing contingent liabilitie...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.