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UDM welcomes stimulus package

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The United Democratic Movement (UDM) says the announcement by President Cyril Ramaphosa about stimulus packages is necessary to re-assure and give direction during this difficult economic period. Party Chief Whip Nqabayomzi Kwankwa says they have been vindicated, because the UDM has for a long time been calling for a Jobs Indaba to discuss micro-economic issues.

Kwankwa says the challenge with the stimulus package will be implementation considering that State Owned Enterprises are in dire financial straits.

“In principle we agree, but the challenge that they are going to find is that you have SOEs that are in dire crisis, you have SOEs that are in dire strain financially from the leadership perspective it’s going to be difficult to see how government is going to implement the stimulus package when you have SOEs that are dysfunctional in the economy.”

Meanwhile, research group Public Service Accountability Monitor (PSAM), says government will have to include a whole new governance and accountability structure as part of its initiative to turn the economy around.

Ramaphosa on Wednesday unveiled government’s economic stimulus package with the aim of boosting the struggling economy. The plan includes re-allocating R45 billion of public funds, a review of the current visa regime, the assessment of administered prices like the electricity tariff and the establishment of a R400 billion infrastructure fund through public private partnership.

Amos Phago and Lulama Matya 


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