30 August 2019

BUSA welcomes catalytic policy intervention by National Treasury

Business Unity South Africa (BUSA) – South Africa’s apex business organisation – welcomes National Treasury’s publication of its paper “Towards an Economic Strategy for South Africa”.

 

This is a much-needed catalytic intervention to speed up the conversation around crucial and urgent macro-economic policy issues.

 

“The opportunity for reform is very short,” Sipho M Pityana, President of BUSA, said.
“It is critically important that we banish hesitation in our quest to set South Africa on an inclusive and sustainable growth path.”

 

The document correctly identifies many of the challenges that need to be addressed if we are to speed up economic transformation, inclusive growth and competitiveness, and proposes bold solutions. This decisive thinking is long overdue and will hopefully speed up the development of a new over-arching macro-economic policy to guide South Africa through these difficult times and beyond.

 

South Africans –young and unemployed in particular – need to know that government is thinking seriously about ways of getting out of the current economic malaise and is committed to finding solutions in partnership with business, labour and civil society.

 

BUSA also welcomes Finance Minister Tito Mboweni’s call for comment on the document.

 

“We accept this invitation and will be discussing the issues within our structures with a view to determine our collective input,” Pityana said. “We will respond in detail to the proposals that are being made, as soon as possible, as part of our contribution to the drive towards a sustainable and inclusive economy.”