Finance Minister Tito Mboweni. Picture: AP/African News Agency (ANA)
Finance Minister Tito Mboweni. Picture: AP/African News Agency (ANA)

ANC NEC to discuss Mboweni's rescue plan

By Siyabonga Mkhwanazi Time of article published Sep 27, 2019

Share this article:

Cape Town - The ANC’s top structure is this weekend expected to discuss Finance Minister Tito Mboweni’s plan to rescue the economy.

The National Executive Committee will meet for the first time since Mboweni released his blueprint more than four weeks ago.

The SACP and Cosatu, who are the alliance partners of the ruling party, have rejected the economic plan.

Cosatu said it must be scrapped and that it would lead to the partial privatisation of Eskom.

The economy has been struggling for some time now. It has not grown above 5% since 2008 when the global financial crisis started.

South Africa is one of the developing economies that have not turned the corner after the crisis.

President Cyril Ramaphosa has been calling for investors to pump money into the economy.

But unions have said for years now that local investors are sitting on more than R3 trillion cash pile and have called for an end to the investment strike by the local investors.

Mboweni put out the plan for public comment.

Political Bureau

Share this article:

Related Articles