EDITORIAL: Trust is crucial to President Cyril Ramaphosa’s plan
A senior business leader recently likened the SA economy to a car that hasn’t been serviced in a few years but that you keep driving in the blind hope of not getting stranded by the side of the road. At some point, however, your luck will run out. After years of not servicing the economy, SA finally ran out of luck in the first half of 2018, with GDP numbers out earlier in September confirming that the economy is in recession for the second time in a decade. In 2009, we had the global financial crisis to blame; in 2018, SA’s poor economic performance comes against a backdrop of strong global growth and is entirely self-inflicted. President Cyril Ramaphosa deserves credit for acknowledging that we are stranded. But the "stimulus" package he announced on Friday equates to little more than an oil change, a new air filter, a few spark plugs and perhaps a new tyre or two. If we’re lucky, it will get us to the mall, but it’s not nearly enough to get us safely back onto the highway. Promis...
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