south africa’s new finance minister swings left wants radically changed economy
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

South Africa’s new finance minister swings left, wants radically changed economy

Arab Today, arab today

Arab Today, arab today South Africa’s new finance minister swings left, wants radically changed economy

Finance Minister Malusi Gigaba
Pretoria - Arab Today

South Africa’s Finance Minister Malusi Gigaba signaled a swing to the left on Saturday, saying “we need to radically transform the South African economy,” while pledging to maintain fiscal stability.
Gigaba also said during a televised news conference that he was committed to protecting South Africa’s cherished investment-grade credit ratings, which are threatened after the removal of his predecessor Pravin Gordhan.
Radical economic change in the political language of South Africa’s ruling African National Congress (ANC) means the redistribution of wealth, land and opportunity to the black majority.
“The ownership of wealth and assets remains concentrated in the hands of a small part of the population. This must change,” Gigaba said.
He acknowledged the political challenges he faces. President Jacob Zuma’s midnight sacking of the widely-respected Gordhan shook South African markets on Friday, undermining his authority and threatening to split the ANC that has governed since the end of apartheid.
“I am fully aware that we are at a highly politicized, polarized and contentious moment in the history of our young democracy. I will not be distracted by external issues,” said Gigaba, who was previously home affairs minister. But he said fiscal policy would not be done simply in the interests of big business and capital.
“For too long, there has been a narrative or perception around treasury, that it belongs primarily and exclusively to ‘orthodox’ economists, big business, powerful interests and international investors. With respect, this is a people’s government,” he said.

Source: Arab News

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

south africa’s new finance minister swings left wants radically changed economy south africa’s new finance minister swings left wants radically changed economy

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

south africa’s new finance minister swings left wants radically changed economy south africa’s new finance minister swings left wants radically changed economy

 



GMT 13:49 2017 Thursday ,08 June

Boko Haram kills 11 in NE Nigeria attacks: police

GMT 09:08 2017 Monday ,11 September

Palestinian court grants bail to prominent activist

GMT 00:06 2018 Wednesday ,24 January

Emirates signs agreement for 36 additional A380s

GMT 09:59 2018 Wednesday ,10 January

Pakistan reiterates solidarity with Saudi Arabia

GMT 23:01 2016 Wednesday ,30 November

21 killed in artillery shelling of eastern Aleppo

GMT 09:22 2016 Monday ,10 October

US troops in Kuwait came under 'suicide' attack

GMT 21:14 2017 Tuesday ,21 February

Tatas will lead, not follow

GMT 11:24 2017 Wednesday ,15 February

ISIS kidnapped 16 civilians from Anbar

GMT 19:30 2018 Wednesday ,31 October

King congratulates Antigua and Barbuda Governor-General

GMT 00:05 2017 Thursday ,28 December

Guterres extends mandate of UN-backed Lebanon tribunal

GMT 01:49 2017 Wednesday ,18 October

Iran considered dropping Turkey to fight the Russian

GMT 00:02 2017 Friday ,01 September

July24th-August23rd
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday