SA: Cabinet pleased with strategy to grow economy

 

Cabinet has taken note of the report back by the Minister of Finance to the President on the progress of government’s consultations with the private sector and labour on the economy. The President tasked Minister Pravin Gordhan to lead engagements with these social partners to map out a strategy and come up with measures for growing the economy and preserving the country’s credit rating. “Cabinet is pleased that this work has culminated in concrete initiatives that will improve the country’s economic prospects,” said Acting Minister in The Presidency or Planning, Monitoring and Evaluation, Nosiviwe Mapisa-Nqakula. She was addressing médium during a post Cabinet briefing on Thursday in Cape Town. The President announced several priority initiatives on Monday, which include: •a joint private and public sector fund for small business support; •addressing constraints to increasing investment in order to accelerate inclusive growth; •government and private sector co-investment in infrastructure, drawing on the experience of the successful Independent Power Producer Programme, and  strengthening State-owned enterprises to ensure their financial sustainability and reinforcing their role in driving development.

 

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