The nations economy has been in a fast lane of decline; the finance minister Tito Mboweni have released a proposal growth aimed at helping the economy bounce back. In this light, the Democratic Alliance (DA) have welcomed the proposals.
Geordin Hill-Lewis, the DA finance spokesman said Mboweni’s proposed reforms were “pro-growth and pro-jobs” and were sure to be opposed by the left wing of the ruling African National Congress, but the minister should stand firm. He said “The opponents of inclusive market-based policies in the ANC will now work to smother this reform. The minister must not be intimidated by the enemies of growth in his own party. Now is the time to stare down the radical forces destroying the country’s prosperity, and he will have our support in doing so.”
The finance spokesperson didn’t fail to add that “The proposals are sure to be opposed and undermined at every turn by the radical left of the ANC, a faction that is bent on ever-more state control over every aspect of the economy, to facilitate looting and to protect incumbents.”
The finance minister’s proposal which was released late on Tuesday on National Treasury’s website, calls for structural reforms that can “reverse the downward trend in South Africa’s growth potential and competitiveness.” These include prioritising labour intensive growth, promoting export competitiveness, implementing flexible industrial and trade policy, encouraging small business growth and modernising network industries.