MEDIUM-TERM EXPENDITURE FRAMEWORK
JOHN DLUDLU: Malusi Gigaba needs to commit to a tighter ship
Gigaba’s inclusive growth plan is not ambitious enough, too incremental and lacks vision. He should focus on the variables he can control
As the deadline for the medium-term expenditure framework approaches, Finance Minister Malusi Gigaba is finding himself under increasing pressure to stave off further rating downgrades. His 14-point action plan, released in July to get the economy back on a growth path, has done little to excite a review of SA’s junk status. In fact, most agencies are deferring the review until after the ANC elective conference. But as CEO Initiative chairman Jabu Mabuza said, business couldn’t indefinitely boycott efforts to resuscitate the economy. This columnist couldn’t agree more. I have argued previously for much bolder measures from the finance minister to engineer a recovery. To recap, the charge has been that Gigaba’s inclusive growth plan is not ambitious enough, too incremental and lacks vision. Put differently, it sounds more like a list of old solutions for an economy going through a trough rather than one that is in a crisis.Therefore, this input is a modest proposal for Gigaba’s consi...
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