Cape Town - President Jacob Zuma should put Pravin Gordhan in charge of the economic cluster in his cabinet to show that he is serious about economic policy certainty in South Africa.
David Maynier, DA MP, said President Jacob Zuma mentioned a so-called “turnaround plan” in his State of the Nation address last week, but it lacked conviction and urgency.
“Most important of all, there was no decisive response to the economic crisis in South Africa and there was no decisive response to avoid a ratings downgrade.”
According to Maynier, Gordhan will have “very little policy space in which to manoeuvre ahead of the budget”.
Like other opposition party members, Maynier referred to the sacking of former finance minister Nhlanhla Nene on 9 December last year, likening it to a nuclear bomb that hit South Africa’s economy.
“The decision to fire the Minister of Finance, Nhlanhla Nene, turned an economic downturn into an economic crisis, and unleashed a firestorm, which destroyed investor confidence in South Africa,” Maynier said.
He dared Zuma to actually do things differently, by asking his ministers to table amendments to labour legislation, implement a youth wage subsidy and begin the process of privatising or partly privatise state-owned enterprises.
“And so, over to you, Mr President.”
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