LETTER: It’s not the economy, it’s the ideology
The ANC’s commitment to revolution is the stumbling block in the revival of the economy
Duma Gqubule’s comment that structural reforms would be counterproductive in our deep depression is correct (“Treasury has lost the plot with focus on long-term structural reforms (https://www.businesslive.co.za/bd/opinion/columnists/2020-07-20-duma-gqubule-treasury-has-lost-the-plot-with-focus-on-long-term-structural-reforms/)”, July 20). Removing stifling regulations and cutting government spending have been found by the IMF to have a disappointing effect.
This is the experience in the normal world: suddenly cutting regulations and state spending, with an “over to you” to the private sector, takes a long time to deliver growth. However, it is critical to realise that SA under the ANC is far from any semblance of normality. It is not regulations per se that undermine our economy. Our debilitation is rooted in ideology...
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