Gigaba explains ‘radical economic transformation’ to investors

Finance Minister Malusi Gigaba. File photo. Image by: AFP
A special Cabinet meeting is due to take place on Wednesday to address the recent credit ratings downgrades by S&P and Fitch.

Gigaba said investors wanted clarification on what the ANC meant by “radical economic transformation”.

“Everything we do must address the fundamental need to grow the economy and grow it inclusively … because ultimately what we need is accelerated growth.”

“What I assured them is that when we talk about inclusive growth and the package of policies‚ it’s exactly the same programmes that we all are concerned about — to create jobs‚ to address poverty‚ to address inequality.

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We want programmes that are going to include as many people who are excluded from economic participation as possible‚” Gigaba said‚ adding that there was no disjuncture between growing the economy and fostering inclusive growth.

“Everything we do must address the fundamental need to grow the economy and grow it inclusively … because ultimately what we need is accelerated growth.”

Chief economist at Investment Solutions‚ Lesiba Mothata‚ said: “The sense we got is that the finance minister‚ over the last 10 days‚ has engaged a lot of people and has planned a road show. Investors have found a lot more comfort from what’s come out of today.”

 Sunita Menon- Tiso Black Star Group/BusinessLIVE

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