Gigaba will pursue radical economic change ‘within fiscal constraints’

The new finance minister says he does want to make some changes, but says government can’t spend more than it can afford.

FILE: Finance Minister Malusi Gigaba speaking at his first media briefing  in Pretoria. Picture: EWN

JOHANNESBURG – New Finance Minister Malusi Gigaba says he want to pursue a policy of radical economic change whole-heartedly, but that government must still behave prudently.

He has also denied having any income other than what he is paid by government.

Gigaba was sworn in on Friday, to take over from Pravin Gordhan.

The finance minister says he does want to make some changes.

“There has been a narrative of some perception against Treasury – that it’s been controlled by exclusively to orthodox economists, big business, powerful interests and international investors. With respect, this is a people’s government.”

But he says government can’t spend more than it can afford.

He admits to being surprised by Thursday night's announcement of his new role.

“I was shocked at both the decision as well as at the fact that I was being put onto this hot seat.”

Gigaba also says he won't withdraw the finance ministry's cases against the Gupta companies.

(Edited by the Masechaba Sefularo)