What do they say about statistics being like bikinis, conspicuous for what they conceal more than reveal? One could argue the same thing about South Africa’s recent revenue windfall, which, to some, will paper over the cracks in SA’s fiscal position. But peel away that temporary largess and the facts are stark. We spend 12.7c of every rand collected in taxes on serving government’s ballooning debt. Along with over 33c paying government wages and another 20c on social grants. That leaves roughly 34 cents to spend on everything else. If this was your household and you were paying your children a fifth of your salary to live with you after school, a third of your salary on your household staff and borrowing to fund the monthly groceries and paying 12% of your salary to service your credit card, you’d be sent to debt counselling. But more than that the country finds itself on the horns of a political dilemma hitherto unseen in the democratic era. Record unemployment, social unrest, and insurrection ride roughshod over confidence and the reform train while moving has yet to gather the required momentum to convince markets that South Africa is a welcome place for investment. Let’s welcome our panel to preview the budget Mamello Matikinca, Chief Economist at FNB; Dr Miriam Altman, economist and professor of 4IR at UJ; Peter Attard Montalto, Head of Capital Markets Research and Intellidex & Mathew Parks, parliamentary coordinator for Cosatu
President Cyril Ramaphosa yesterday delivered his State of the Nation Address at the Cape Town City Hall. Economic recovery was one of Ramaphosa’s central focus points. The president said government would assemble a task team to help companies do business and gain access to funding, thus creating employment. When it comes to State Owned Enterprises, the president said a task team is working on evaluating and consolidating SOEs and their function. Professor Miriam Altman from the College of Business at the University of Johannesburg, weighs in on the president’s speech.
President Cyril Ramaphosa has committed to creating an environment that will help small businesses to create jobs and for legislation hampering informal traders from doing business to be amended. He was delivering the State of the Nation Address last night at the Cape Town City Hall. He has appointed the former chairperson of the Small Business Institute to lead a team that will make these changes. He has also announced that hemp and cannabis will be industrialised and has encouraged localisation.
Guest: Miriam Altman – Professor of 4IR Practise at the University of Joburg’s School of Economics and Director of Altman Advisory
The security cluster says it has intelligence that the recent looting and infrastructure damage are a result of a concerted effort to destabilise South Africa. Dr Mirriam Altman, from UJ’s School of Economics, speaks to #eNCA’s Clement Manyathela. Courtesy #DStv403
This is my personal website. It started with the aim of offering easy access to a body of research created over a decade on employment, growth and poverty reduction. I have posted my own papers and publications and those where I have been commissioning editor with a wide group of experts. I hope that making the papers and methodologies available will assist policy makers and researchers globally. This website will now evolve to share my recent interests, writing, initiatives and links to organisations I am involved with.