“South Africa’s government should focus on creating jobs and boosting the economy, not just on controlling debt”, says economist Duma Gqubule.
Gqubule warned that the government, including Finance Minister Enoch Godongwana, is giving people a false impression that the economy is improving, while many South Africans are still struggling.
The 2026 Budget will be presented in Parliament on Wednesday, and it will outline the government’s plans for spending, economic growth, and keeping finances in order.
Gqubule says the budget should put economic growth at the top.
“We have had a very low GDP growth of just 1.1% per year for the past 17 years. By 2025, the South African average was worse off than of 2007.
This is leading to a long-term drop in living standards,” he said.Unemployment is also rising, affecting around 12.4 million people.
“The government wants us to believe things are getting better, but the reality for most people has not changed.
Stories about lower unemployment or stable debt just are not true.”Gqubule said the country does not have a debt problem, but a growth problem. “The budget is not just numbers on a page.
If we want the economy to grow, we need to invest in it, even if it costs more. When the economy grows, we create more jobs,” he explained.
He added that the government should spend more on people and infrastructure projects.
“Investing in infrastructure creates jobs and helps the economy. Public employment programs should be expanded. We cannot keep going like this.”
Sub-Editor: Matlala Kgaugelo
