SA needs a credible fiscal framework for economic growth: Gordhan
Finance Minister Pravin Gordhan says South Africa needs to focus on attracting more foreign direct investment.
Gordhan was hosted by media company, Media24, in Cape Town this morning - a day after he delivered his mini-budget speech in Parliament.
Gordhan says government alone can't solve all of the country's economic challenges.
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"People want to know whether if they lend you money it's safe. And the simple proposition is are you willing and able to pay? And as long as we have a credible fiscal framework, the answer is yes," he said.
He added that concerns raised through the ratings agencies included questions of whether the current political situation in the country would be unsettling to economic growth.
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According to the minister, the issue of credibility was also an important one for investors.
"[They] want to know: can we rely on your institutions?" he said.