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Will ANC NEC back Mboweni’s economic growth plan?

The governing party’s top leaders gathered in Benoni on Sunday to discuss the economy, among other things.

FILE: Finance Minister Tito Mboweni addressing the media prior to his Annual Budget speech taking place on 20 February 2018 in Cape Town. Pictures: Cindy Archillies/EWN.

JOHANNESBURG - As the African National Congress’ (ANC) national executive committee (NEC) meets on Monday for a second day, there was much anticipation over what the party’s official stance would be on Finance Minister Tito Mboweni’s economic growth strategy.

The governing party’s top leaders gathered in Benoni on Sunday to discuss the economy, among other things.
It’s believed that Mboweni’s document was at the heart of the discussions.

The paper was released on the Treasury's website last month and is titled Economic Transformation, Inclusive Growth, and Competitiveness: Towards an Economic Strategy for South Africa.

Mboweni said the paper was an attempt to translate the broad outcomes of inclusive growth, economic transformation and competitiveness.

Senior lecturer at the Wits School of Economics Lumkile Mondi said Mboweni’s document deserved more support from ANC leaders.

“The urgency is to get economic growth going and the is president simply silent but busy appointing these panels and not engaging and supporting the minister,” he said.

Head of the Wits School of Business Jannie Rossouw agreed that Mboweni’s document was on point, saying the country was in a fiscal crisis and hoped the ANC would realise this.

“We can only hope that everybody will be on board because it will take everybody to get us out of this difficulty. Cosatu will have to admit that it’s no longer possible to demand the type of wage adjustments as previously.”

Click here to read the full paper.

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