It's not votes but economic growth that drove stimulus package, Cyril Ramaphosa tells Business Times

23 September 2018 - 00:00 By Ron Derby
President Cyril Ramaphosa announced a stimulus package to help boost the economy this week.
President Cyril Ramaphosa announced a stimulus package to help boost the economy this week.
Image: Themba Hadebe / POOL / AFP

“Silly and populist notions” will not rescue or transform the economy, says President Cyril Ramaphosa.

In an interview with Business Times editor Ron Derby after announcing a stimulus package on Friday, Ramaphosa denied that his intervention was aimed at securing ANC votes next year.

“This is aimed at cranking the economy into life,” he said.

Ramaphosa has instructed finance minister Nhlanhla Nene to find R50bn by reprioritising government spending, and has centralised R400bn of infrastructure spending in the presidency.

He aims to streamline procurement, destroy “the silo effect you have in government” and minimise the potential for corruption. And he believes the private sector will come to the party.

“Overall, [government is] not good at creating jobs. We should be at the top of our game when it comes to being an enabler and being a catalyst,” he said.

Read the full story in the Sunday Times.


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