DUMA GQUBULE: The window of opportunity to change SA’s course is closing fast
The government needs to introduce emergency macroeconomic policy measures to grow the economy
Three years ago it became clear to me that SA’s economic situation had deteriorated significantly and would get worse because the government had nothing to offer except the same dish of structural reforms and austerity it has served with different spices each year.
At a Black Business Council conference I called for emergency measures to grow the economy. These included the suspension of the inflation target until the economy had an acceptable growth rate, an emergency interest rate cut of 200 basis points and a R500bn fiscal stimulus to be spent on infrastructure over three years.