DUMA GQUBULE: SA’s economy needs a plan, not Ramaphosa’s gimmicks
Summits, envoys, programmes and initiatives have done nothing to stem unemployment and sliding growth
Next week it will be two years since Cyril Ramaphosa became SA president. Whichever way you look at it, his leadership of the economy has been disappointing. The five economic policy gimmicks of his presidency have not delivered.
GDP per capita has declined for the past two years. The number of unemployed has increased by 1.1-million people since he became president. However, there is still no plan to get the economy out of its worst postapartheid crisis or restructure Eskom’s balance sheet. The IMF and World Bank have forecast three more years of declining GDP per capita.