Stop the negative talk and grow the economy: Gordhan
Finance Minister Pravin Gordhan has urged business leaders to stop drawing attention of South Africans to only what is going wrong in the country’s economy.
Speaking at a business breakfast hosted by Ernst and Young in partnership with the Johannesburg Chamber of Commerce and Industry in Sandton‚ Gordhan said the economy needed an investment of 30% of GDP for it to achieve the growth stated in the National Development Plan.
Currently‚ investment in the economy stands at 20% of GDP.
Gordhan said one of the issues that restrains growth is the constant focus on what is going wrong in the country.
“We have to stop shooting ourselves in the foot all the time‚” Gordhan told the business leaders.
“We need too shift from reinforcing what economics call a vicious cycle...If we keep on the negativity we will get negativity as the result. We will get immobility as the answer...if all we do is complain about what doesn’t work as opposed to what does work...In election time that is all [people] do
“You just point at the gaps. That is the only way you can get votes sometimes.
“In my organisation‚ we are pointing at what we have done and not what is missing. We also talk about how we will compensate for what is missing.”
– TMG Digital