Ramaphosa’s economic recovery plan, a public relations exercise – expert – the Citizen

President Cyril Ramaphosa’s exaggerated economic recovery plan is nothing more than a public relations exercise aimed at covering up the mess the government has wreaked on the economy, says one expert. Wits Business School finance analyst and professor Dr. Thanti Mthanti said the action is too late to help the economy and that Ramaphosa could have acted six months ago, when companies faced imminent closures and job losses. of workers as a result of the closure of Covid-19. . “Where do they get the money now that they didn’t have it six months ago when it was desperately needed? They have closed businesses, airports, buses and …

President Cyril Ramaphosa’s exaggerated economic recovery plan is nothing more than a public relations exercise aimed at covering up the disaster the government has wreaked on the economy, says one expert.

Wits Business School finance professor and analyst Dr. Thanti Mthanti said the action is too late to help the economy and that Ramaphosa could have acted six months ago, when companies faced imminent closures and job losses. of workers as a result of the closure of Covid-19. .

“Where do you get the money now that you didn’t have it six months ago when it was desperately needed? Businesses have closed, airports, buses and taxis are empty. What infrastructures are they going to build? Do we need to build new roads when existing roads are empty because the economy is dead? Mthanti asked.

No other country apart from South Africa has so far announced a recovery plan after the economic damage of Covid-19. Other countries unveiled their plans to save jobs and boost the economy shortly after announcing their closures to avoid massive economic damage.

“This should be just a public relations stunt to cover the damage they have done to our economy,” he said. The expert said there was a lot of speculation about Ramaphosa’s plan, but its details were shrouded in mystery despite all the noise. The leader of the Democratic Alliance (DA), John Steenhuisen, said that Ramaphosa had run out of way for plans and promises.

“Now we need action and results,” he said. According to Steenhuisen, if the plan failed to implement, it would go down in history as “his Inaction Plan of Economic Destruction and his presidency will mark the largest sustained contraction of South Africa’s economy.”

The district attorney, however, did not preach all the fatalities and sadness. “Assuming the final version of this plan echoes the most recent draft circulated, it contains some long overdue pro-growth reforms that, if actually implemented, will have a significant positive impact on South Africa’s economic and social well-being,” said Steenhuisen .

Saftu, the second largest union federation after Cosatu, said the plan would be a “disappointment” and warned workers not to be fooled by the president’s rhetoric. Saftu said that the workers and the poor should not accept it.

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