Veteran tax and finance technocrat Ismail Momoniat, the South African National Treasury’s deputy director-general for tax and financial sector policy, says that during the tenure of former president Jacob Zuma, the country reversed all the economic growth gains achieved between 1994 and 2008. News24 reports that in an affidavit he deposed in support of President Cyril Ramaphosa’s testimony at the Zondo Commission of Inquiry into State Capture, Momoniat said “Under president Zuma, the erosion of the discipline of prudent decision-making and value-for-money spending, combined with the misdirection of funds, not only reversed these gains, moving us back to sub-investment grade, but also took some key economic indicators to a level far lower than that which we inherited in 1994”.