'Alleged meddling at Treasury may further jeopardise SA's credit rating'

The resignation of National Treasury's head of budget is a signal of instability, says veteran journalist Pippa Green.

Michael Sachs has resigned amid reports of President Jacob Zuma's interference in the budgeting office.

Green says that Sachs has been a key figure in shaping economic policy.

Read: Any interference in National Treasury signals instability - BLSA

She says his resignation is a significant loss and sign of the dangerous road on which Treasury is headed.

He's played a very constructive role in thinking about how to finesse policy to get growth, employment and better equity in the country.

Pippa Green, journalist and communications manager at Research Project on Employment, Income Distribution and Inclusive Growth (REDI)

If policy is being dictated from outside of the transparent budget process, it puts the head of budget in an invidious position.

Pippa Green, journalist and communications manager at Research Project on Employment, Income Distribution and Inclusive Growth (REDI)

Also read: Zuma's rumoured free education plan could be ploy for 2019, says Ralph Mathekga

Green says that alleged interference at the Treasury by outside parties could reduce investor confidence and further jeopardise South Africa's credit rating.

Take a listen to her analysis:


This article first appeared on CapeTalk : 'Alleged meddling at Treasury may further jeopardise SA's credit rating'


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