He said other reforms proposed by the Treasury included completing a spectrum auction, making the regulatory changes needed to allow more self-generation of electricity by large firms and improving the operational performance of Eskom.
Tshabalala said according to the Treasury’s modelling, if this kind of scenario played out, SA might be able to grow about one percentage point more, from 1% to roughly 2% by the end of the year.“The political barriers to achieving some of these reforms don’t seem insurmountable, so I’m mildly optimistic that SA might grow a bit faster than predicted in 2020.
He said this did not mean exporting to China only. Tshabalala said South African manufactured foods were in great demand in many other African countries. “South African agricultural products and services , also remain highly competitive in Europe,” he said.“The opposite is true: our businesses beyond SA generate a lot of income and a lot of jobs here at home - as they also do in the countries where they operate.
“Done right - skilfully, ethically, responsibly, within the law, meeting real needs – more trade and more outward foreign direct investment make life better for everyone, at home and abroad,” Tshabalala said.