Gigaba sets out his plans as Finance Minister
Newly-appointed Finance Minister Malusi Gigaba says he will not deviate from government's policy of fiscal prudence.
"I will not betray our people by allowing individual or special interest to prevail over the public good," said Gigaba at a press briefing in Pretoria on Saturday morning.
Gigaba addressed the media for the first time since he was controversially moved from Home Affairs to the Finance portfolio as replacement for Pravin Gordhan.
He said even though he will not spend money that the country doesn't have, there is a need for radical economic transformation.
"There is a growing consensus inside the ANC and progressive sectors of society, that if anything, the pace and depth of transformation has been too slow and in many instances, superficial. Simply put, many in our alliance feel the ANC has been too conservative," said Gigaba.
The new Finance Minister added that he fully understands the enormous importance of the responsibility which has been given to him, to oversee the management of the nation's financial resources.
"I did not get into politics for myself, but rather to serve the people of this country, and to achieve the ANC's historic mission of a non-racial, non-sexist, united, democratic and prosperous South Africa," said Gigaba.
Gigaba said the following issues emerged as the top priorities:
- Working with Parliament to approve the 2017 Medium Term Expenditure Framework (MTEF) and ensuring its effective and efficient execution, including achieving the fiscal objectives that Cabinet approved in January.
- Working with his colleagues in government to reinforce the alignment of the budget to their development objectives as set out in the National Development Plan and other policy documents.
- Continuing the work with business and labour to ensure that they achieve faster and more inclusive growth so that they create more work and business opportunities for the people of South Africa.
- Using state procurement strategically and vigorously, to ensure localisation, promotion of black-owned, women-owned, youth-owned enterprises and SMMEs, and to facilitate industrialisation.
- Working with the Central Bank to take steps to strengthen and transform the financial sector so that it serves all South Africans.
- Work closely with provinces to strengthen financial management not as an end in itself, but as a means to deliver more and better quality services.