Can we create the SA we want to live in after Covid-19, asks Raymond Parsons
SA’s historical imbalances have not disappeared so we need a clear national purpose to define future economic strategiesSince Cyril Ramaphosa ascended to the presidency of SA two years ago, the country has seen a wide range of economic and political developments, both positive and negative.
In a throwback to the landmark work of futurologist Clem Sunter, the main policy choices SA now faces are, again, putting the economy on the “high road” or the “low road” into the future. A successful macro-economic policy that enables the country to take the high road should contain three key elements: efficiency, stability and consistency.
Suffice to say that the severity of the damage caused by the virus and the raft of measures required to cope with it should not be underestimated.Despite the weak preconditions in the SA economy, we must recognise the extent to which the national lockdown has obliterated previous economic and fiscal benchmarks. The devastating economic impact of Covid-19 and the possible cushioning effect of various economic support measures introduced so far still have to play themselves out.
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