The Finance Minister has given South Africa and experts something to think about.
Tito Mboweni’s unexpectedly published an economic strategy for the country on the Treasury website.
The strategy has been distributed to all Cabinet ministers.
It makes far-reaching recommendations on a variety of policy areas that fall under the responsibility of his Cabinet colleagues.
The paper is not a Cabinet document.
But it does have an important bearing on the performance of the economy.
“The paper, prepared by the National Treasury, is an attempt to translate the broad outcomes of inclusive growth, economic transformation, and competitiveness into specific programmes and draw on a range of domestic and international literature to support these policy priorities,” Treasury said in a statement.
Mboweni published the document along with a call that members of the public make comments, which should be directed to the Treasury.
The blueprint has proposed a number of scenarios to increase the GDP and grow the economy
Here are some interventions Treasury has proposed:
- It plans to create youth unemployment interventions such as the employment tax incentive, learnerships and apprenticeships
- Addressing skills constraints such as easing of immigration regulations for individuals with tertiary qualifications from accredited institutions
- Stabilising the economy to achieve a flexible exchange rate, inflation targeting
- Creating sustainable cities and inclusive transport systems
- Modernising network industries such as transport, energy, water, and communications to promote competitiveness and inclusive growth.