SABC News - Gigabas plan won’t regenerate economy: Analyst:Sunday 16 July 2017

Gigaba's plan won’t regenerate economy: Analyst

Sunday 16 July 2017 10:29

SABC

Minister Gigaba announced a short-term plan aimed at boosting business and consumer confidence in the economy.(SABC)

Labour analyst Terry Bell says he does not believe that Finance Minister Malusi Gigaba's 14-point action plan will help to regenerate the economy.

A few days ago, Gigaba announced a short-term plan aimed at boosting business and consumer confidence in the economy.

Speaking on Weekend Live, Bell says he hopes the plan will also stave off further credit ratings downgrades and put the country on a growth path.

“It is just a stale repeat of the past. It’s doing nothing new; it’s certainly not going to regenerate the economy. We have a problem with the whole process we have followed so far; we have certainly had it since 1996. We need to change that so-called neoliberal paradigm. It needs to be changed instead of trying to patch it up. I think this is much like the boy with his finger in the dyke, if you know that story in Holland.”

Bell says Gigaba is trying to stick his finger in the dyke when the whole wall is beginning to crumble and he does not think it’s going to work.

Listen to the full interview below:

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