SA faces worst economic crisis since '94, budget has no substance - analyst

Centre for Economic Development and Transformation director, Duma Gqubule, says Minister of Finance Pravin Gordhan's speech failed to address what he calls an economic crisis facing South Africa.

Gqubule says the Finance Ministry and sectors associated with the department, such as the Reserve Bank are to be blamed for slow economic growth.

For the last eight years ever since Gordhan's in charge there is permanent austerity, every year, it's 'we can't afford' and there is no vision on how to get out of this.

Duma Gqubule, Centre for Economic Development and Transformation director

We are facing a worst economic crisis since end of apartheid, but nobody has come up with the plan to solve the issue, and neither did the budget come up with the plan to solve this issue.

Duma Gqubule, Centre for Economic Development and Transformation director

Before coming to the show I decided to read the speech for the second time. There is actually nothing of substance that it said on transformation.

Duma Gqubule, Centre for Economic Development and Transformation director

Listen to the audio below for more analysis...


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