Gigaba's mid-term budget points to Zuma's mismanagement of economy - DA

In a scathing critique of Minister of Finance, Malusi Gigaba's mid-term budget policy statement, the Democratic Alliance's Member of Parliament and Shadow Minister of Finance, David Maynier, has pointed to what he describes as the catastrophic mismanagement of the economy under President Jacob Zuma's leadership. Maynier highlighted the staggering budget deficit of over 200 billion rand, equivalent to 4% of the country's GDP, as a clear indication of the dire state of the economy. Furthermore, he drew attention to the disproportionately high expenditure on debt servicing costs, surpassing the budget allocation for policing by more than 120 billion rand. The Shadow Minister's analysis underscores deep concerns about the trajectory of South Africa's fiscal health and economic policies, calling for urgent structural reforms and fiscal consolidation. Maynier emphasized the need for a fundamental shift in economic policy, advocating for comprehensive spending reviews, and suggesting the privatization of state-owned enterprises as key measures to address the current economic challenges facing the nation. The critique reflects broader anxieties within the opposition party regarding the government's handling of the economy and the implications for South Africa's economic future.