Is Ramaphosa’s plan another false dawn?
Scepticism over SA’s new growth plan is justified; only hard and fast implementation can resuscitate growth after so many disappointments
President Cyril Ramaphosa’s economic recovery plan has received a mostly lukewarm reception from economists and the markets, even though it contains many positive policy reforms that, if urgently implemented, would help boost SA’s growth rate.
The problem is that most of these reforms are promises that have been recycled endlessly over the past few years but never implemented. Many featured in Ramaphosa’s last two state of the nation addresses and in finance minister Tito Mboweni’s growth document, released a year ago. But their execution has been hamstrung by political contestation and state incapacity...