South Africa

SA needs deep structural reforms or it's 'game over', says Tito Mboweni

13 January 2020 - 12:48 By Unathi Nkanjeni
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Finance minister Tito Mboweni says SA is headed for junk status if it doesn't change its economic policies soon.
Finance minister Tito Mboweni says SA is headed for junk status if it doesn't change its economic policies soon.
Image: Ruvan Boshoff

Tito Mboweni is dismayed with SA's economy and has called for the country to rid itself of “structural reforms inertia”.

In a series of tweets, the finance minister said it was time for SA to get moving by taking “many steps at a time”.

Referring to himself as a contrarian, he added: “Throughout history, those who wanted to change society have not been conformists but contrarians. I am on the faction of contrarians.”

Mboweni said the country was headed for “game over” if structural reforms were not implemented.

“Stay as you are and you are downgraded to junk status,” he added.

Reactions

Mboweni's frustrations were met with mixed reactions on Twitter.

Here is a snapshot:

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