EFF Slams Ramaphosa's Economic Plans, Warning Privatization Would Cost Jobs

LOCAL NEWS

• Left wing EFF party says Ramaphosa’s economic plan is a blueprint for privatsiation of SOEs and undermines SA’s sovereignty in the second day of debates over his SONA speech.
  • Leader Malema slammed his statement that the private sector should lead job creation, warning that this would harm SOEs and employment. Ramapohosa will respond to scrutiny in today’s debate – News24
• Alexander Forbes chief economist says SA may see a R160-180bn revenue overrun and a much lower fiscal deficit than forecast at next week’s budget, reducing risks of overspending on the public sector wage bill and 12 month extension of the SRD grant.
  • Warns however, that low growth and interest rate hikes may pose challenges for employment – Fin24
• Deputy FinMin says the Treasury will introduce new pension fund regulations for South Africa before the end of February. Changes are aimed at ‘unlocking’ new investment in infrastructure by the private sector and form part of the process to amend Regulation 28 of the Pensions Fund Act to enable retirement funds to invest in infrastructure.
  • Reg 28 amendments proposed that the overall investment in infrastructure across all asset categories may not exceed 45% regarding domestic exposure and an additional limit of 10% in respect of the rest of Africa - BusinessTech.
• City of Joburg says it is gaining momentum in recovering R38bn in unpaid municipal rates & taxes from residents, businesses and govt and are planning a debt rehabilitation programme. Tshwane says it plans to implement similar policies – IOL News