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When analysing a state of the nation address (Sona) it is important to separate the signal from the noise and have a laser focus on what it means for the economy and jobs. Most of what President Cyril Ramaphosa said he would like to happen is irrelevant until it appears in the budget.
For example, the president said we must lift economic growth above 3% per annum. But proof that the plans he announced will not achieve this target will be found in finance minister Enoch Godongwana’s budget on Wednesday, which will have a forecast of an annual average GDP growth rate of 1.7% over the next three years. As always happens, SA will not achieve the Treasury’s forecast…
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