A fresh vision needed
Editor | Wednesday May 1, 2013 00:00
While the hope has been that Matambo would resign because he could not very well carry on in his onerous office with the encumbrance of litigation, we seem to be stuck with another addition to a growing list of leaders who are far from being beyond reproach.
Nevertheless, we hope that Matambo will deliver a budget with a fresh vision for an economy that needs a new impetus. We are aware that since he was appointed to his position, Matambo has presented neither a surplus nor a balanced budget.
The 2012/2013 budget projected a surplus of P1.15 billion because the minister was convinced that the economy would grow by more than four percent, which was a tad too ambitious, seeing as how the International Monetary Fund (IMF) subsequently revised it to four percent.
Little doubt, the less upbeat position of the IMF was influenced by the bearish performance of the mineral sector that continues to contribute the bulk of our GDP. Accordingly, Matambo's budget will reflect this slump on Monday. His penumbra is also likely to reflect the resounding failure of efforts at economic diversification, which is partly due to the costly contract overruns that affect almost all major development projects.
Among these are major power plants inside which are locked employment generation during construction and the power to fuel the economy to greater heights by attracting a more robust industrial base and exporting electricity to neighbouring countries on completion.
The risk of economic stagnation is very present and real, but we must acknowledge that this threat is related to the archaic structures in force in the Southern African Customs Union. Most oppressive of these is the one that has historically tilted industrialisation heavily in favour of South Africa and created a massive zone of economic dependence in the other SACU member states. We have been heartened by trade minister Dorcas Makgato-Malesu's grasp of SACU issues and impressed by her stated resolve to pry open the unhallowed hand of post-apartheid South Africa so that we may also enjoy investment inflows. Even so, we want to see action in which she and Matambo understand that they are partners.
But with the nation still revolted by the appalling examination results - the worst ever - at primary and junior secondary schools levels, Matambo's figures should be partial to education and training where the issues are as broad as they are disturbing. Many of them are as basic as student and teacher welfare that we continue to neglect at our peril, as demonstrated by the unparalleled civil service strike of Winter 2011.
We trust that Minister Matambo understands that among other benchmarks, nations are judged on how they treat the distaff section of their populations, which is almost always in the majority. To that end, something tangible should go towards the police on Monday - regular police, not the spooks at DIS.
Today's thought
'If a man empties his purse into his head, no one can take it away from him. An investment in knowledge always pays the best interest.'
- Benjamin Franklin