Progress is unlikely to be smooth and will likely take time, and we now need to see ‘promises’ converting into reality.
A look at the lingering risks that threaten to derail the current rally. Do we now have a chance to get our country back on track? Or will the positive sentiment fizzle out?As the dust settles following the 2019 general election, it’s evident that the centre has held. Together, the ANC and the DA, which roughly occupy the middle ground on the economic ‘ideology spectrum’, have the support of close to 80% of the electorate .
At the forefront of the president’s mooted reforms is a bid to encourage a surge in jobs producing fixed investment spending, including foreign direct investment – supported by a programme to bolster business confidence partly by improving the ease of doing business in South Africa and addressing governance and financial management issues at key public sector enterprises.
In any event, the Treasury appears committed to a gradual decrease in the relative size of the government’s bloated wage bill, through natural attrition and voluntary retrenchment only. This suggests more revenue-generating measures are likely to be announced, while the possibility of prescribed assets is still on the table.
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