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SA Unlikely to Reach Growth Targets

The Development Bank of Southern Africa (DBSA) on Monday said in order for SA to reach the target of 5-million jobs created by 2020 it would need to grow its GDP by 10% per year.


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NPC Develops Plan for SA

| News by Staff Reporter

Which could reduce poverty and inequality and create 11-million jobs

South Africa can greatly reduce inequality, eradicate poverty and create 11-million new jobs over the next 20 years if it undergoes a paradigm shift, according to the National Planning Commission (NPC).

According to the national development plan released on Friday by the NPC South Africa can get rid of poverty and greatly reduce inequality by 2030, as well as create 11 million new jobs.

Speaking to reporters on Friday Cyril Ramaphosa, deputy chairman of the NPC, said, “At the core of the vision statement are two issues – it’s about eliminating poverty and reducing inequality and giving South Africans a better life.”

This would require a new approach, “one that moves from passive citizenry receiving services from the state, to one that systematically includes the socially and economically excluded,” read an overview of the NPC’s new plan.

However, “The things that drive growth are not always the things that drive job creation – and the things that are good for job creation are not always good for growth,” read an overview of the vision statement of the development plan.

It proposes creating an environment for sustainable employment and economic growth in South Africa, where there is a reduction in the costs of doing business and living through micro-economic reforms in the areas of food, transport and telecommunications.

It said the unemployment rate could be reduced over the next two decades from 27% to 6% (an increase in employment of 11-million people) by increasing growth and creating jobs, while reducing poverty and inequality could be tackled by ensuring faster economic growth and higher investment and employment, rising education standards, a healthy population and social protection.

The vision statement and new development plan were handed to President Jacob Zuma on Friday for consideration, after which consultations will take place (over the next six months) where improvements will be made to the plan. Cabinet would then be able to adopt the new plan.

Source: www.bizpremises.co.za