Effects of structural reform will take time
Finance minister Godongwana stresses need to strive for policy coherence and for state to intervene in economy to enhance growth, not inhibit it
Implementation of structural reforms critical to igniting long-term economic growth is gaining momentum, but their effects will probably not be immediate, says finance minister Enoch Godongwana.
Godongwana firmly committed to fiscal consolidation and reducing the budget deficit to 4.9% of GDP by 2024/2025, down from 7.8% of GDP in 2021/2022. This consolidation is expected to be supported by structural reforms such as additional spectrum, energy security and decarbonising in a bid to unlock private-sector investment and job creation...