'Alleged meddling at Treasury may further jeopardise SA's credit rating'

The resignation of National Treasury's head of budget is a signal of instability, says veteran journalist Pippa Green.

Michael Sachs has resigned amid reports of President Jacob Zuma's interference in the budgeting office.

Green says that Sachs has been a key figure in shaping economic policy.

Read: Any interference in National Treasury signals instability - BLSA

She says his resignation is a significant loss and sign of the dangerous road on which Treasury is headed.

He's played a very constructive role in thinking about how to finesse policy to get growth, employment and better equity in the country.

Pippa Green, journalist and communications manager at Research Project on Employment, Income Distribution and Inclusive Growth (REDI)

If policy is being dictated from outside of the transparent budget process, it puts the head of budget in an invidious position.

Pippa Green, journalist and communications manager at Research Project on Employment, Income Distribution and Inclusive Growth (REDI)

Also read: Zuma's rumoured free education plan could be ploy for 2019, says Ralph Mathekga

Green says that alleged interference at the Treasury by outside parties could reduce investor confidence and further jeopardise South Africa's credit rating.

Take a listen to her analysis:


This article first appeared on CapeTalk : 'Alleged meddling at Treasury may further jeopardise SA's credit rating'


Recommended

by THE NEWSROOM

702 welcomes all comments that are constructive, contribute to discussions in a meaningful manner and take stories forward.

However, we will NOT condone the following:

  • Racism (including offensive comments based on ethnicity and nationality)
  • Sexism
  • Homophobia
  • Religious intolerance
  • Cyber bullying
  • Hate speech
  • Derogatory language
  • Comments inciting violence.

We ask that your comments remain relevant to the articles they appear on and do not include general banter or conversation as this dilutes the effectiveness of the comments section.

We strive to make the 702 community a safe and welcoming space for all.

702 reserves the right to: 1) remove any comments that do not follow the above guidelines; and, 2) ban users who repeatedly infringe the rules.

Should you find any comments upsetting or offensive you can also flag them and we will assess it against our guidelines.

702 is constantly reviewing its comments policy in order to create an environment conducive to constructive conversations.

Read More
New fast bowling sensation Lungi Ngidi, SA's boy next door

New fast bowling sensation Lungi Ngidi, SA's boy next door

The Proteas' fast bowling star Lungi Ngidi is the man of the moment after he took six wickets as SA beat India in the second Test.

Cable theft device may be solution to scupper rampant theft in SA

Cable theft device may be solution to scupper rampant theft in SA

Inventor of the Securi-Cable Barry Geer explains the systems and devices developed to prevent rampant cable theft in SA.

Cape Town's alleged underworld extortionist charged with murder

Cape Town's alleged underworld extortionist charged with murder

Details of Nafiz Modack and Jaques Cronje's involvement in the stabbing of a bouncer at Cubana in Green Point have emerged in court.

DA starting to look more like ANC as factional battle unravels, says  Haffajee

DA starting to look more like ANC as factional battle unravels, says Haffajee

Mmusi Maimane has his work cut out for him trying to repair DA's reputation ahead of the 2019 elections, says Ferial Haffajee.

Any interference in National Treasury signals instability  - BLSA

Any interference in National Treasury signals instability - BLSA

The rand took a dive on Monday following confirmation that National Treasury's budget head Michael Sachs had resigned.

Zuma's rumoured free education plan could be ploy for 2019, says Ralph Mathekga

Zuma's rumoured free education plan could be ploy for 2019, says Ralph Mathekga

Political analyst Ralph Mathekga says rumors of free education are in line with Zuma's 'radical economic transformation' rhetoric.

Popular articles
Signal jammers and other devices confiscated at China Mall

Signal jammers and other devices confiscated at China Mall

Several communications devices were confiscated from businesses in a raid by Icasa at China Mall on Wednesday.

Trump confirms his first visit to Africa

Trump confirms his first visit to Africa

United States President Donald Trump has disclosed his first stop on an African visit.

Former Body Beat TV host Dr Phil Joffe catches up with Afternoon Drive team

Former Body Beat TV host Dr Phil Joffe catches up with Afternoon Drive team

Dr Phil Joffe presented SABC's famous Good Morning South Africa breakfast show for ten years, from 1989- 1998.

'The university degree is dead'

'The university degree is dead'

Flux Trends founder Dion Chang gives five reasons why he believes getting a degree is past its sell by date.

3 easy questions could bag you R2000!

3 easy questions could bag you R2000!

WIN R2000! But only if you can prove you're a whiz of the MTN Biz Quiz by answering the following three questions...

5 ways the NSFAS funding model will change in 2017

5 ways the NSFAS funding model will change in 2017

The National Student Financial Aid Scheme (NSFAS) will pilot a new funding model in 2017. NSFAS chairperson Sizwe Nxasana explains.