ActionSA warns of doom in manufacturing industry, calls for speedy economic reforms
The latest calls come as Finance Minister Enoch Godongwana prepares to table a third budget later this month.
Welding in the manufacturing sector. Picture: Pixabay
JOHANNESBURG - ActionSA has called for speedy economic reforms as the country continues to battle slow growth, warning of doom in the manufacturing industry if nothing is done to prevent further decline.
The latest calls come as Finance Minister Enoch Godongwana prepares to table a third budget later this month.
In addition to tackling big ticket items such as revenue, spending and debt, the party believes the national treasury also needs to commit to plans to spur recovery in key economic sectors.
READ: Some economists believe Godongwana has little room for error with third attempt at budget
ActionSA MP Alan Beesley said, "In the last 25 years, the manufacturing sector has not grown and rather than being a driver of economic growth and job creation, the sector has been left to flounder by a failing government.”
Beesley said an overhaul of industrial policy was needed.
“In this regard, it is imperative that the finance minister must deliver real economic reform in budget 3.0. The manufacturing sector needs real economic reform.”