Friday Briefing: Tito and Treasury versus the rest

tito

Tito and Treasury versus the rest: High-noon in South Africa

The economic discussion paper released by National Treasury - under the aegis of Finance Minister Tito Mboweni - has predictably led to an outcry within the ANC and the broader governing alliance. Opponents of drastic economic reform, many who sit in the heart of the party and in the SACP and Cosatu, are vehemently opposed to most, if not all, reforms proposed by Treasury. And others are peeved at not having been consulted.

South Africa's economy is in a precarious position. The reforms mooted by Mboweni ever since his first major budget speech in October last year has not materialised. Our national debt is growing, the budget deficit is becoming a gaping hole and economic policy remains contested. Add into the mix ANC infighting and a president seemingly reluctant to lead, and its clear why we’re paralysed. 

What's also clear is that there is no more room left to manoeuvre, and that bold and urgent decisions must be taken. Mboweni, in last October's medium-term budget speech and in February's budget speech, has shown himself willing to take the flak if it means moving the country out of the quagmire of inaction. In this week's edition of News24's Friday Briefing, economist Thabo Leoka argues that it's time for ideologues to get out of the way, while analyst Mpumelelo Mkhabela says Mboweni won't get anywhere unless Ramaphosa supports him openly and honestly.

Best,

Pieter du Toit  

Assistant editor: In-depth news


tito



Recovering the economy: Ideologues must get out of the way

Thabi Leoka

Reaction to National Treasury's economic discussion paper is reminiscent of the reaction to the National Development Plan in 2012. But this time around the economy is going belly up - its time for the ideologues to get out of the way.

READ MORE

tito

Mboweni's spoiling for a fight, and Ramaphosa must support him

Mpumelelo Mkhabela

Finance minister Tito Mboweni is clearly ready for battle as he attempts to revive and reform the economy. But he'll get nowhere unless he gets President Cyril Ramaphosa's direct and explicit backing.

READ MORE

SIGN UP for the Friday Briefing newsletter, delivered to your inbox early every Friday morning, for insight and analysis on the big political story of the week.

We live in a world where facts and fiction get blurred
In times of uncertainty you need journalism you can trust. For only R75 per month, you have access to a world of in-depth analyses, investigative journalism, top opinions and a range of features. Journalism strengthens democracy. Invest in the future today.
Subscribe to News24
Lockdown For
DAYS
HRS
MINS
Voting Booth
As a child or as an adult, have you ever been a victim of bullying?
Please select an option Oops! Something went wrong, please try again later.
Results
Yes, at school
55% - 4225 votes
Yes, at work
18% - 1371 votes
No, I've never experienced this
27% - 2110 votes
Vote
USD/ZAR
14.31
(+0.5)
GBP/ZAR
19.80
(-0.3)
EUR/ZAR
17.19
(+0.3)
AUD/ZAR
11.03
(-0.2)
JPY/ZAR
0.13
(+0.5)
Gold
1,783.38
(-0.6)
Silver
26.12
(-1.6)
Platinum
1,207.13
(-0.8)
Brent Crude
65.32
(-1.9)
Palladium
2,831.19
(-1.7)
All Share
66,972
(-0.3)
Top 40
61,183
(-0.4)
Financial 15
12,096
(-0.2)
Industrial 25
86,814
(+0.1)
Resource 10
68,622
(-0.9)
All JSE data delayed by at least 15 minutes Iress logo