Gigaba: I take responsibility for driving economy very seriously

New Finance Minister Malusi Gigaba has warned that the projected economic growth is not sufficient to reduce unemployment poverty and inequality.

New Finance Minister Malusi Gigaba speaking at his first media briefing  in Pretoria. Picture: Kgothatso Mogale/EWN

JOHANNESBURG - Newly installed Finance Minister Malusi Gigaba says he takes the responsibility of driving the economy very seriously.

He's currently addressing a Sars briefing in the capital, just days after taking over from Pravin Gordhan who was axed in the President Jacob Zuma's latest Cabinet reshuffle.

Gigaba has warned that the projected economic growth is not sufficient to reduce unemployment poverty and inequality.

Gigaba has assured South Africans that the recent changes in Cabinet will be well managed.

He has been answering a barrage of questions about his new position and the possibility of a ratings downgrade.

At the same time, Sars has announced that the revenue service collected R1.14 trillion in taxes for the 2016/2017 financial year.

Gigaba says he can't believe that changing one individual will result in a rating's downgrade.

Gigaba says he’s concerned about the recent discussion around the cabinet reshuffle, but says greater changes have happened and have been dealt with before.

He says he’s an experienced politician and a well-educated person and there should be no doubt about his ability to run this vital portfolio.

Sars, meanwhile, has managed to collected more than R1 trillion in tax for the second year in a row.