AgriSA has called for action not words when Minister of Finance, Tito Mboweni delivers his budget speech next week.
“He will have to show a commitment to fiscal consolidation in the context of a constrained environment plagued by low economic growth, load shedding and a potential credit downgrade by Moody’s. Averting a credit downgrade will likely be high on his agenda,” says AfriSA’s Nicol Jansen..
“More details on the implementation of economic revival strategies, for example, the National Treasury’s economic strategy and the plans referred to in the Sona will be necessary to support investor confidence.
“There will have to be concrete plans to balance the budget while considering the need for economic growth. The budget must also address the risk posed by rising government debt.”
The organisation has singled out drought support, electricity reform, emerging farmer support and biosecurity as key issues that must be addressed.
“Agriculture is a key sector to unlock economic growth, tied with policy certainty and a more conducive economic environment,” said Jansen.