Gordhan needs political will to fix economy'

Pretoria – Finance Minister Pravin Gordhan knows how to fix South Africa’s economy, he just needs the political will to do so.

Those were the words of Stanlib economist Kevin Lings during a lecture on South Africa’s economic prospects at the CSIR yesterday.

Lings said he had a meeting with Gordhan’s team to come up with seven ideas on how to get the economy back into shape.

“Finding solutions for the economy is easy. It’s finding the solutions within the current political landscape that is difficult,” Lings said.

Gordhan, who is in his second stint as finance minister since the sacking of Nhlanhla Nene and David van Rooyen, has the unenviable job of preventing credit rating agencies from downgrading the country’s rating to junk status.

“Junk status means when you want to get foreign money [investment] it will be more difficult and more expensive,” Lings said.

It would be difficult, basically impossible, for South Africa to accelerate its growth while the rest of the world’s economy was subdued, he said.