Treasury Director-General Lungisa Fuzile was speaking at a thought leadership discussion in Rosebank on Monday, aimed at addressing the implications of the credit rating reviews by the world’s major agencies.
He says a strong economy is needed to strengthen the country’s fiscal position.
Fuzile says the economy has been in a state of uncertainty for too long, making it difficult for foreign investors to trust the economic climate of the country.
“I don’t like the position I find myself in. Every time we convene to talk about budgets they ask if we’ve figured out another place we’re going cut. Every time they announce they say they’ll tax people more.”
Argon Asset Management economist Thabi Leoka was also part of the discussion.
She says 'white privilege' continues to widen the inequality gap, which has a detrimental effect on the economy.
“The sad fact is that most black people don’t know the political side of this.”
Treasury admits political tensions are also major concerns facing the local economy.
