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The good, the bad and the unrealistic from president's economic recovery plan

15 October 2020 6:52 PM
Tags:
SA Economy
Economy
The Money Show
Job creation
Economic growth
Bruce Whitfield
Iraj Abedian
President Cyril Ramaphosa
Economic Recovery Plan
Lockdown
COVID-19
Covid-19 grant
economic reconstruction and recovery plan

Some positives in Ramaphosa's address, but he didn't tackle govt's policy paralysis - analyst Dr Iraj Abedian on The Money Show.
President Cyril Ramaphosa presents SA’s Economic Recovery Plan, 15 October 2020. Image: Screengrab from SABC feed

President Cyril Ramaphosa addressed a joint sitting of Parliament on Thursday to present the economic recovery plan for South Africa.

He detailed the "fix" for the country exactly seven months after first declaring a national state of disaster.

The president summarised the objectives of the plan as follows:

- To create jobs, primarily through aggressive infrastructure investment and mass employment programmes;

- To reindustrialise our economy, focusing on growing small businesses;

- To accelerate economic reforms to unlock investment and growth;

- To fight crime and corruption; and,

- To improve the capability of the state.

Short-term measures announced by Ramaphosa include an extension of the special Covid-19 grant (until January) and the proposed creation of 800,000 jobs (in the next few months).

Bruce Whitfield gets comment from Dr Iraj Abedian, CEO of Pan-African Investments and Research Services.

Policy paralysis has been the hallmark of the government for the past six or seven years, but especially over the past two years and the president did not address how the policy paralysis is going to be broken.

Dr Iraj Abedian, CEO of Pan-African Investments and Research Services

To invite the nation to aspire to a better country doesn't mean that aspiration will translate into reality, unless he as the head of state, makes very tough decisions.

Dr Iraj Abedian, CEO of Pan-African Investments and Research Services

On the spending he was very concrete in terms of what what he is going to deliver. The fact that the social grant is inevitable is a reality that we have to deal with...

Dr Iraj Abedian, CEO of Pan-African Investments and Research Services

... but equally in order to enable us to sustain the unavoidable expenses on health and social welfare we need to have double the urgency to make the economy revive and be able to generate the revenue for the government so that it can continue not for three months, maybe for three years...

Dr Iraj Abedian, CEO of Pan-African Investments and Research Services

For more reaction and analysis, listen to the conversation below:


15 October 2020 6:52 PM
Tags:
SA Economy
Economy
The Money Show
Job creation
Economic growth
Bruce Whitfield
Iraj Abedian
President Cyril Ramaphosa
Economic Recovery Plan
Lockdown
COVID-19
Covid-19 grant
economic reconstruction and recovery plan

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