Ramaphosa's new Cabinet will help boost business & investor confidence - economists
On Sunday, President Cyril Ramaphosa announced a 32-minister executive to help him run the country for the next five years.
President Cyril Ramaphosa addresses the nation on the appointment of the new National Executive of the 7th Democratic Administration held at the Union Buildings, in Pretoria 30 June 2024. Picture: GCIS
JOHANNESBURG - Some economists believe the newly-appointed Cabinet will go a long way to boost business and investor confidence.
On Sunday, President Cyril Ramaphosa announced a 32-minister executive to help him run the country for the next five years.
The economic cluster will be under sharp scrutiny now, as the country looks to rein in its weakened economic performance.
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The markets are likely to continue responding positively as they digest the new mix of Cabinet appointments.
North West Business School economist, Raymond Parsons, said the new appointments were expected to give a level of political certainty.
He said that this was essential to underpin the investment and job-rich growth that South Africa needs.
The economic cluster includes Finance Minister Enoch Godongwana, Trade and Industry Minister Parks Tau, as well as Small Business Development Minister Stella Ndabeni-Abrahams.
Despite some new entrants into the cluster as well, economist Dale McKinley said that policy continuity was likely to be the order of the day.
"I think, overall, if you look at the way it’s configured, I wouldn’t expect that we’ll see a huge deviation to what we’ve seen previously."
Both economists have called on Cabinet to put party politics aside and prioritise a stable economic policy environment.