Sacci urges the finance minister to restore business confidence

JOHANNESBURG – The South African Chamber of Commerce and Industry (Sacci) on Monday called for the Finance Minister Malusi Gigaba to shift his focus in restoring confidence in the business sector.

Gigaba is set to deliver his first Medium-Term Budget Policy Statement (MTBPS) in parliament on Wednesday, where he is expected to set out fiscal objectives as well as the government spending priorities over the three-year expenditure cycle.

Sacci says the finance minister should issue a policy statement that would restore confidence and boost economic growth to the country’s troubled economy.

The chamber said it is very important that Gigaba deals with paramount fiscal issues and provide real solutions to consolidate the fiscal policy, manage government debt and also ensure the adherence of sustainable economic development while bankrolling critical government programmes like broke state-owned enterprises (SOEs), social welfare and higher education.

Sacci also said the MTBPS report by Gigaba on Wednesday should determine and shade light to the public as well as investors from around the globe about government plans to revive the imbalance in the declining revenue in areas of capital investment and social development.

According to the chamber, Gigaba and his ministry should provide effective fiscal solutions that will benefit all South Africans and investors.

Image Courtesy of AAN7

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