If the saying “desperate times call for desperate measures” is true, it must also be true that tough times call for bold, courageous and creative measures — exactly what is needed from Wednesday’s medium-term budget policy statement.

The finance minister should address the poor economic outlook. Investment in emerging markets is about the balance between growth and risk. Without growth there is only risk. This is the real challenge SA faces, in which progrowth (political) rhetoric does not translate into substantive economic progress. Fortunately, it is one the minister has an opportunity to address...

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