STATE OF THE ECONOMY
ONKGOPOTSE JJ TABANE: ANC foolish not to heed decline in business confidence
The state of the economy is a direct reflection on the state of the relationship between the government and business. A good relationship between the two is SA’s only hope to navigate the negative effect of the recession and multiple downgrades. Maybe this is exactly what prompted Finance Minister Malusi Gigaba to say that he wanted to meet business urgently. He started off on a bad footing by rushing to the US on his own and leaving business behind. A majority of business leaders have ceased to be diplomatic and have now put it in writing that they believe the government is mismanaging the economy. The combination of reckless decision-making fuelled by state capture; policy uncertainty exaggerated by a policy-on-the-go tendency; and mixed messages about radical economic transformation and inclusive growth have birthed a total loss of business confidence.You can’t really seriously talk of growth in the current negative trajectory represented by the recession and other terrible econo...
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