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Economic Reconstruction and Recovery Plan: show us the money

Business Insight 3 months ago

Economists are positive over Ramaphosa’s plan to save the country’s economy, but question where the money will come from to reach his ambitious targets.


15 Oct 2020
PREMIUM!
Economic Reconstruction and Recovery Plan: show us the money

President Cyril Ramaphosa shares a lighter moment with opposition leader John Steenhuisen. Picture: GCIS

Economists liked what President Cyril Ramaphosa said in parliament on Thursday about stopping corruption and doing business with government, but felt that he did not give enough deadlines and goals to reach. Nicky Weimar, chief economist at Nedbank, says the big question is how the South African Economic Reconstruction and Recovery Plan will be financed. She also expressed concern about projects that have started already. “Where are these projects and what are they doing?” She thinks the most important and positive announcement is the fact that government employees and their families will not be allowed to do business with government...

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