UASA Media Release: 28 October 2024
Image Source: www.parliament.gov.za
Statement by Abigail Moyo, spokesperson of the trade union UASA:
As South Africa anticipates the tabling of the Medium Term Budget Policy Statement (MTBPS) by Finance Minister Enoch Godongwana on Wednesday, 30 October 2024, UASA calls on the government to prioritise sustainable economic reforms to:
- Address the global leading high levels of unemployment as a priority
- Address persistent challenges hindering economic growth,
- Mitigate inflationary pressures,
- A sustainable plan for government expenditure and
- Viable solutions to tackle the energy and water crisis burdening households and businesses.
With no hope for anything new in terms of policy and the government’s usual commitment to keeping its expenditures in check, UASA urges Godongwana to focus on public sector growth and real and nominal GDP growth plans because faster economic growth is a practical way to relinquish poverty and stabilise the future economic outlook.
During last year’s MTBPS, the economic outlook was gloomy, with Eskom blackouts, an economic contraction of 0.3% and an annual CPI of 5.5%. In contrast, the overall outlook is now positive, which creates room for viable economic growth opportunities.
We need a clear plan to boost economic growth through investment in critical sectors, support for small businesses, and initiatives to improve productivity and competitiveness. This is critical to curbing the country’s rising debt levels and restoring investor confidence, which can reinforce job creation.
UASA calls on Godongwana to allocate proper funding to SMMEs and other departments to address the high unemployment rate and clarify the social relief of distress grant (SRD) instead of the vague extensions we have seen being signed over the last two years.
UASA emphasises that new measures should reflect sound fiscal discipline to avoid further economic strain. The MTBPS should present a realistic, practical economic outlook that instils confidence in both local and international stakeholders.
We hope this MTBPS will soon provide a foundation for long-term economic stability. We expect the government to be bold in addressing economic challenges and present an MTBPS that promotes resilience and sustainable growth.
For further enquiries or to set up a personal interview, contact Abigail Moyo at 065 170 0162.