Deputy finance minister repeats reform roll call at the launch of Rand Merchant Bank’s US operation
Deputy finance minister repeats structural reform roll call at the launch of Rand Merchant Bank’s US operationDeputy finance minister David Masondo. Picture: GALLO IMAGES/ZIYAAD DOUGLAS
He said the government has embarked on a structural reform agenda “that is aimed at liberalising the network industries dominated by inefficient state-owned companies. This would contribute to economic growth. “Despite these challenges, we remain committed to a prudent monetary and fiscal policy framework. We are on track to narrow the budget deficit, produce a primary budget surplus and stabilise our debt in the coming years. This means that we cannot turn to monetary policy, which is constrained due to high inflation, or to fiscal stimulus to fuel economic growth.
Masondo said the government, through its economic reform programme Operation Vulindlela, is driving a “far-reaching reform agenda to modernise and transform SA’s economy. A key objective of the programme is to liberalise and enable private sector participation in network industries which had historically been dominated by state-owned monopolies like Eskom or Transnet.”
“Transnet is also partnering with international terminal operators at our two largest container terminals in the ports of Durban and Ngqura, which will crowd in private investment and management expertise to bring our ports up to world-class standards. Reforms in the telecommunications sector aim to increase network speed and quality, expand broadband access and reduce costs.”
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