Masondo calls for speedy structural reforms as economy faces growth crisis

JOHANNESBURG - Outgoing deputy Finance Minister David Masondo has again called for speedy structural reforms as the country’s economy faces an economic growth crisis.

Masondo made the call on day one of the first day of the Operation Vulindlela conference in Rosebank on Tuesday.

Poor infrastructure, an energy crisis, inefficiencies in the logistics sector, as well as crime and corruption are among issues dampening economic growth.

Government has for long touted structural reforms in these sectors but Masondo said that the impact of the slow progress was massive.

"Our economy is not growing at the pace at which we all desire in order to reduce unemployment and poverty. It’s not growing at the pace which will enable us to generate efficient tax revenue in order to do all the things we have to do as government."

Masondo said no one would be spared the impact of an anaemic economy.

"We may be comfortable in our jobs but if the economy is not growing then we’re going to be in trouble."