SOUTH AFRICA: Another plan – heavy on spending, light on liberalization?

Africa

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President Cyril Ramaphosa’s Economic Reconstruction and Recovery Plan makes bold promises around four priority areas – infrastructure development, job creation, energy security and industrialization.It seems heavier on spending than on economic liberalization, which will present challenges for next week’s Medium-Term Budget Policy Statement (MTBPS).The stakes are high: Ramaphosa could begin to seize on the pandemic fallout to build reform momentum, or in a worst case, could see his plans and his very tenure undermined by a rebellious ruling party. This week, parliament d
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