Prominent business leaders have become frustrated with the glacial pace of South Africa’s reform over the past 18 months under President Cyril Ramaphosa, lamenting ongoing bailouts for state-owned enterprises such as debt-laden Eskom, deteriorating public finances, and mounting policy uncertainty.
Elias Masilela, who focuses on economic policy and analysis for the National Planning Commission , says while business leaders publicly criticise the pace of Ramaphosa’s reform agenda, they are not sufficiently helping to inform government on policies that can revive economic growth, tackle the unemployment crisis and shore up investment.
, Masilela believes this social compact should be revived to fix South Africa’s socio-economic problems. And the blame for poor policy implementation, unemployment, inequality, and an ailing economy over the past nine years should be shouldered not only by the government but also business, labour and civil society.
Credit rating agencies expect South Africa’s debt burden to increase further – to 68% of GDP by 2021/2022, not the 60% the government is budgeting for. They expect the 2021/2022 debt percentage to continue rising over the next few years, while the government expects it to decline from 2025/2026.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Singapore Singapore Latest News, Singapore Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Business Maverick Analysis: Breaking the cycle of fear before it becomes a lasting panicFear has run roughshod over the financial markets over the past two weeks, sending US long bond yields down to levels never seen before. But do global economic fundamentals really justify such extreme moves or is the prospect of a self-fulfilling global economic recession on the rise? If so, what can we do to break this vicious cycle?
Source: dailymaverick - 🏆 3. / 84 Read more »
Business Maverick: Huawei Founder Sees ‘Live or Die Moment’ From U.S. UncertaintyHuawei Technologies Co.’s founder Ren Zhengfei warned in an internal memo the company is at a “live or die moment” and advised underutilized employees to form “commando squads” to explore new projects. Workers who fail will have their salaries cut every few months and may lose their jobs, the billionaire said yesterday.
Source: dailymaverick - 🏆 3. / 84 Read more »
Business Maverick: Judge’s reasons for urgent interdict support Tekkie Town caseWinning their business back from Pepkor and Steinhoff is a slow and uncertain journey, but the founders of footwear and apparel group Tekkie Town remain determined to see the process through.
Source: dailymaverick - 🏆 3. / 84 Read more »
Business Maverick: Discovery’s red flagsExecutives from financial services group Discovery have been at pains to convince the market that National Health Insurance will not necessarily hurt their business. But is the share price slump just about NHI?
Source: dailymaverick - 🏆 3. / 84 Read more »
Business Maverick: Price Surge Spells ‘Hell’ for India Gold Sales as Demand WanesJewellers in India, the top consumer after China, are facing a bleak outlook as record-high prices and fading demand threaten to drag annual gold sales to the lowest in three years.
Source: dailymaverick - 🏆 3. / 84 Read more »