President Cyril Ramaphosa’s Operation Vulindlela is forging ahead with its next phase amid ongoing wrangling over positions in his executive
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For the time being, it appears Ramaphosa’s structural reform programme won’t be derailed by competing political interests in the new government. “These reforms are necessary to resolve long-standing challenges in key industries and create more jobs and opportunities. We will need to build on the progress that has already been made, while accelerating the pace of reform,” he wrote in a letter which urged unity amid wrangling over power sharing.
“Although a lot remains uncertain at the moment — we are living through particularly uncertain times — I think one thing that has been absolutely clear is that government remains committed to this journey of reforming the economy,” Musker said. The BER’s model found that implementing structural reforms in the four network industries — energy, railways, ports and infrastructure — can boost real GDP growth by 1.5 percentage points by 2029.
The BER’s research notes that any form of government spending can be positive for economic growth over the short term. “However, spending on infrastructure and current line items do not have the same long-term impact on potential growth. The markets will also view them differently, with ill-advised spending resulting in higher bond yields and debt over time.”
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