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Gordhan & Mboweni agree action needed to rescue SA economy

Cabinet ministers who took part in discussions at the second Investment Conference on Wednesday agreed that what stood in the way of plans to rescue the economy was action.

Finance Minister Tito Mboweni at a media briefing after delivering the Medium-Term Budget Policy Statement in Parliament on 30 October 2019. Picture: @TreasuryRSA/Twitter

JOHANNESBURG - Cabinet ministers who took part in discussions at the second Investment Conference on Wednesday agreed that what stood in the way of plans to rescue the economy was action.

A number of topics were explored at the summit with Finance Minister Tito Mboweni and Public Enterprises Minister Pravin Gordhan addressing concerns about the energy and infrastructure environment in the country.

Unlocking the country’s growth potential could require a lot of work on the part of all social partners including government but for Mboweni, the best way to start was for everyone to do what they agreed to.

“We shouldn’t be talking about projects that have been identified last year as not having been implemented. So, there has to be moving forward. I think that’s what we need to do. This being an investment conference, therefore means that our investment partners must walk with us in this journey of implementation.”

He added that there was also a need for the country to admit that there was certain expertise it would have to seek from the international community.

Meanwhile, Gordhan said the country had a positive legacy behind it that it could capitalise on.

“We’ve lost that momentum and my colleague says we need to pick the momentum up again.”

The investment conference will continue in Soweto on Thursday where delegates will delve into issues related to entrepreneurship and small business enterprises.

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