Seifsa bemoans lack of ‘concrete plans’ to tackle slow pace of economic growth

The Steel and Engineering Industries Federation of Southern Africa (Seifsa) has welcomed government’s announced efforts to reduce its expenditure; however, the organisation remained concerned about the lack of concrete plans to address the country’s slow economic growth. Speaking a day after Finance Minister Pravin Gordhan’s 2016 Budget Speech last month, Seifsa chief economist Henk Langenhoven said the Budget indicated that the primary balance of current expenditure versus income would be positive from this Budget period onwards.