South Africa has no real economic recovery plan – Report

[Hanno Labuschagne]

South Africa has no real economic recovery plan – Report

Analysts have described the ANC’s economic reconstruction and recovery plan as “terrible, archaic, and disturbing”, the City Press reported.

Centre for Economic Development and Transformation founding director Duma Gqubule went one step further, saying the government has no economic recovery plan.

South Africa’s economy is currently in the doldrums after suffering a big contraction during April, May, and June due to the lockdown restrictions imposed in response to COVID-19.

 

[Jet-Fighter7700]

what did you expect from the ANC? a plan? what wishful thinking.

 

[Jet-Fighter7700]

what I'm more surprised, is more political parties screaming at people, especially in the rural areas,
look at what the ANC did for you, yet you keep voting for them.

I guess if it was an election year things would be different.

 

[Herr der Verboten]

what did you expect from the ANC? a plan? what wishful thinking.

staff writer: this is a staff writer
eg2505: what did you expect?

 

[swift412]

Maybe they should have outsourced it to school children.

The resulting plan would probably have been more successful.

 

[elf_lord_ZC5]

Only plan ANC, has is how to steal from next "target", beyond that nothing - as this is their full time occupation.

 

[Lupus]

The ANC plans... We are uhmm going to uhmm make RET, NHI and feed the poor. The taxes we will increase, no worries we can milk what is left of the tax payers.

 

[TEXTILE GUY]

So, more on this ..............

Crucially, it lacks funding details – a surprise, given the economic straits of South Africa’s public finances and political economy. And the grim outlook when Finance Minister Tito Mboweni presents the Medium-Term Budget Policy Statement on 21 October. The June emergency Covid-19 Budget warned of out-of-control debt levels, and the loss of South Africa’s democratic gains.

Instead, the economic recovery plan’s implementation simply says in the funding column, “yes”, “public-private partnership”, “private” or “current budget”.


At the same time, the economic reconstruction and recovery plan is shifting governance, arguing the new Covid-19 normal. Or as the Cabinet lekgotla briefing document says “Adaptation to the ‘new normal’ as society transitions to a reality of co-existence with Covid-19”.

And so the National Command Council is put in overall charge of monitoring and evaluation – in charge of Nedlac, and its presidential and other working groups, as well as line ministries and departments.

ANALYSIS: SA’s economic reconstruction and recovery plan: The devil is in the detail and with the National Command Council

Calling a joint sitting of Parliament signals the seriousness President Cyril Ramaphosa wishes to impart when on Thursday 15 October he presents what is dubbed as the South African Economic Reconstruction and Recovery Plan. Optics aside, many questions remain.

www.dailymaverick.co.za

 

[boboudts]

The arrogant anc just don't have a clue.....period!

 

[system32]

More scary than Halloween:
Checked your RA/Pension/Provident Fund
No growth in the last 3 years.
Regulation 28
Below is my RA fund:

Looks good when you see over a 3 or 5 year period, except when you calculate the per year growth:
Sept 2017 - Sept 2020 - 3 years
RA growth: 4.99% - 1.66% per yer
Money market (for comparison): 25.61% - 8.54% per year

Nov 2015 - Sept 2020 - 5 years
RA growth: 22.55% - 5.51% per yer
Money market (for comparison): 49.9% - 9.98% per year

 

[maeztro]

The fact that we tax payers still have money paid into our bank accounts and not to SARS, is disturbing to the ANC.

 

[Jet-Fighter7700]

The fact that we tax payers still have money paid into our bank accounts and not to SARS, is disturbing to the ANC.

don't worry they will nationalize the banks soon enough to ensure OUR money funds their extravagant lifestyles.

 

[DreamKing]

anc: plan? what plan?

 

[boboudts]

Probably a plagiarised PowerPoint show from Ireland, as was the Eastern Cape's ITC "Plan"!

The anc are, quite frankly, incapable of independant thought and merely parrot other people's ideas - convinced of their arrogant, knowitall "genius", just as they believe in their right to steal other people's money, to justify to their "our people", the funding of their populist, racist, marxist revolutionary tyranny!

 

[Shadowchaser1]

SA is already a failed state, not in 2030. That is very ambitious. There is no economic plan, never will be. Just like the 4IR. Serious? You not even passed 2IR.

 

[Cius]

When has it ever been the case that the person stupid enough to break it was the same person to fix it.

 

[Mystic Twilight]

Plans are important, but there is a bit too much over emphasis and concerns about plans, successful execution is far more important. Has there been ANY plan of significance the past decade that has been successfully executed and gained at least 80% of its intended outcome without completely blowing the budget. Feels like an echo [spending] chamber about making plans but never executing them, and then making new plans for old plans gone stale.

 

[ShaunSA]

Only the New Dawners/Wakandists will be shocked by this tbh

 

[reactor_sa]

Shame, just give them another 26 years, they must have almost finished writing their name at the top of the paper by now.

 

[Jet-Fighter7700]

anc: plan? what plan?

the plan to funnel money from our pockets into the Cupholder of their BMW.
for McDonald's money.