Finance Minister Malusi Gigaba on Thursday unveiled a series of aggressive interventions and action steps to stimulate economic recovery after South Africa’s fall into recession in the first quarter. His address revealed two main outcomes – dodge another downgrade and reignite economic growth. The ambitious 14-point plan and its attached action steps demonstrated a “sense of urgency and action-oriented intervention”, with clear timelines. This would bind government to commit to “what needed to be done” to stave off any further downgrade, the new Finance Minister explained at a media briefing at the Johannesburg Stock Exchange.
