{"id":816397,"date":"2025-03-12T08:18:29","date_gmt":"2025-03-12T06:18:29","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=816397"},"modified":"2025-03-12T08:18:35","modified_gmt":"2025-03-12T06:18:35","slug":"the-one-thing-godongwana-desperately-needs-to-deliver","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/business\/816397\/the-one-thing-godongwana-desperately-needs-to-deliver\/","title":{"rendered":"The one thing Godongwana desperately needs to deliver"},"content":{"rendered":"\n<p>The chief of South Africa\u2019s third-biggest lender said policymakers need to use Wednesday\u2019s budget to prioritize macroeconomic consistency in order to kickstart expansion.<\/p>\n\n\n\n<p>The key for investors is that \u201cthey want policy certainty,\u201d Absa Group Ltd. interim Chief Executive Officer Charles Russon said in an interview on Bloomberg TV Wednesday. <\/p>\n\n\n\n<p>\u201cThey want fiscal certainty, and ultimately, they want an environment that is conducive to growth.\u201d<\/p>\n\n\n\n<p>South African Finance Minister Enoch Godongwana will make a second attempt at presenting an acceptable budget to a fractious coalition government after an attempt last month failed, raising questions about future investment in the country if it doesn\u2019t pass.<\/p>\n\n\n\n<p>The economy has expanded at less than 1% annually for the last decade, an era of government graft, mismanagement and bailouts for under-performing state companies amid weakened public finances.<\/p>\n\n\n\n<p>Russon said the budget would need take steps to reduce debt and wasteful expenditure, and show responsible fiscal management.<\/p>\n\n\n\n<p>Africa\u2019s biggest economy could expand by 2% this year, \u201cbut we do need the certainty coming out of today,\u201d Russon said.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Absa interim CEO says policymakers need to use Wednesday\u2019s budget to prioritize macroeconomic consistency in order to kickstart expansion.<\/p>\n","protected":false},"author":59,"featured_media":816399,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9872],"tags":[29,21583,20158],"class_list":["post-816397","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-absa","tag-budget-2025","tag-charles-russon"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/816397","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/59"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=816397"}],"version-history":[{"count":1,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/816397\/revisions"}],"predecessor-version":[{"id":816400,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/816397\/revisions\/816400"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/816399"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=816397"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=816397"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=816397"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}