Minister of Finance Tito Mboweni. Picture: Dimpho Maja/African News Agency(ANA)
Minister of Finance Tito Mboweni. Picture: Dimpho Maja/African News Agency(ANA)

Cosatu spurns Mboweni’s recovery plan

By Siviwe Feketha Time of article published Sep 30, 2019

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Johannesburg - Trade union federation Cosatu has yet again warned it will not back the ANC’s proposed solutions for the country’s ailing economy if the solutions are based on the economic recovery plan proposed by Finance Minister Tito Mboweni.

The ruling party is today expected to outline the outcomes of its special national executive committee (NEC) meeting held over the weekend in Boksburg, Ekurhuleni.

The meeting, which concludes today, earlier focused on the state of local governance as well as the economy with Mboweni’s plan, titled “Economic transformation, inclusive growth, and competitiveness: Towards an Economic Strategy for South Africa” extensively deliberated on.

Mboweni released the economic policy paper late last month, advocating for several growth reforms in a bid to address challenges relating to economic growth, economic transformation and competitiveness.

Both Cosatu and the SACP, which initially rejected Mboweni’s plan, also attended the NEC meeting on Sunday.

The federation said Mboweni’s policy made no fresh proposals compared with previous plans, and that it left out key issues including the implementation status of joint multi-sector resolutions and the role the private sector should play in them.

On Sunday, Cosatu national spokesperson Sizwe Pamla said that while the federation would contribute to finding solutions that would grow and transform South Africa’s stagnant economy, it would still spurn Mboweni’s plan.

“We have met with the ANC economic transformation subcommittee and we have made our views clear. The plan does not provide any solution to many of the problems confronting the economy,” said Pamla.

SACP national spokesperson Alex Mashilo was not available for comment at the time of publication.

Political Bureau

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