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Mboweni releases economic strategy paper, calls on SA to comment

The paper was released on the Treasury's website and is titled Economic Transformation, Inclusive Growth, and Competitiveness: Towards an Economic Strategy for South Africa.

Finance Minister Tito Mboweni delivers the 2019 Budget speech on 20 February 2019. Picture: GCIS

JOHANNESBURG - Finance Minister Tito Mboweni released a paper on economic strategy calling on South Africans to comment.

The paper was released on the Treasury's website on Tuesday and is titled Economic Transformation, Inclusive Growth, and Competitiveness: Towards an Economic Strategy for South Africa.

Mboweni said the paper was an attempt to translate the broad outcomes of inclusive growth, economic transformation and competitiveness.

He said this paper was a detailed examination of the structural reforms that could reverse the downward trend in South Africa's growth potential.

Mboweni said weak growth over the past six years was as a result of structural factors, along with once-off shocks such as political turmoil, drought and load shedding by Eskom.

To combat this, he outlined top priorities including modernising network industries to promote competitiveness and inclusive growth, along with lowering barriers for entry to business through increased competition and small business growth.

He also suggested prioritising labour-intensive growth in agriculture and services while promoting trade and export competitiveness to facilitate what he called long-run growth.

Click here to read the full paper.