Mboweni's economic plan drafted by consultants: EFF

The EFF's deputy president says while his party is still studying Finance Minister's proposal on transforming the economy, the paper appears to be drafted by consultants. Courtesy #DStv403

JOHANNESBURG - The EFF's deputy president, Floyd Shivambu says Finance Minister Tito Mboweni's proposals on the economy appears to be drafted by consultants.

Mboweni released the 77-page document for public comment.

The plan proposes reviewing regulations on everything from fuel to banking and suggests ways to get more tourists and immigrants into the country as South Africa battles with a contracting economy.

“We are going to give a detailed response to what appears to be a consultant's contribution on what should be the economic growth in South Africa,” he said.

“We definitely know that there was no internal consultative process that involved provinces and that involved a variety of stakeholders in Cabinet to produce this perspective. It looks like the manner in which the Growth, Employment and Redistribution - GEAR was introduced in 1996.”

Shivambu said the 'policy' will not create jobs.

“It is a fundamental departure from the NDP [National Development Plan] commitments, form the ANC's manifesto commitments in terms of job creation and economic growth...” he added.

Watch the full interview above