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Johannesburg - South African Finance Minister Trevor Manuel indicated on Wednesday that he was prepared to continue in government after next week's elections.
Asked whether he would return to his post after the elections, Manuel said: "It's a remarkable privilege I was asked to serve... I would not have agreed to go on the ANC's (African National Congress) list without indicating my preparedness to continue serving," he told Italian and Greek businesspeople at a function.
Manuel is fourth on the ANC's list of candidates for parliament. His conservative approach to fiscal policy while serving as finance minister has won him favour among international investors.
The ANC, which has dominated local politics since the end of apartheid in 1994, is widely expected to retain its majority in parliament after next week's vote.
The future of Manuel as well as Reserve Bank Governor Tito Mboweni is of particular interest to investors who are concerned about trade union and communist allies of the ANC's push for pro-poor changes in economic policy.
Manuel did not give any indication about the direction of economic policy after the elections.
No reason to panic
While South Africa would likely feel the effects of the global economic slowdown, he said there was no reason to panic.
"We have not been as ravaged as most countries are ... we are holding up remarkably well," Manuel said.
"I'm not suggesting there won't be job losses and not suggesting the world economy has already touched the bottom ... but there's no reason to panic."
The country's manufacturing and mining sectors have been hard-hit by the global economic slowdown, putting thousands of jobs on the line.
The government, which is trying to spur growth through a big infrastructure spending program, has said it may provide loans to certain sectors.
Economic growth contracted by 1.8% in the fourth quarter of last year and weak manufacturing and mining output point to negative growth in the first quarter, putting South Africa on course for its first recession in 17 years.
The economy grew by an average 5 percent between 2003 and 2007, but it expected to slow markedly in 2009 on the back of an international slump, from an estimated 3.1% in 2008.
- Reuters