Many expect a win for the BJP and allies to help boost infrastructure investment?

South Africa’s ruling African National Congress (ANC)’s head of policy on Wednesday said more investment was needed to boost the economy.

Jeff Radebe, speaking on the sidelines of the 54th ANC elective conference in Johannesburg, said South Africa’s economy grew by 2 percent in the third quarter of 2017, which falls short to address the country’s triple challenges of poverty, inequality and unemployment.

Radebe, also a minister in the Presidency responsible for monitoring and evaluation, also lamented that investment declined from 23 percent of the gross domestic product (GDP) in 2008 to 20 percent in 2017.

The South African government wants investment to reach between 20-25 percent of the GDP, he said.

“Our government acknowledges that our country’s public sector capacity to implement major projects is presently inadequate and that steps are being taken to strengthen planning and implementation capacity at all levels including public-private partnership,” said Radebe.

He called for the collective action by the government, private sector, labor and civil society to improve the situation. Enditem

Source: Xinhua/NewsGhana.com.gh

Advertisements

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.