Govt estimates draft economic growth rate for next 5 years to be 3%
This was revealed in a media briefing on Friday by the Department of Planning, Monitoring and Evaluation.
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JOHANNESBURG - The South African government estimates the draft economic growth rate for the next five years to be 3%.
The Department of Planning, Monitoring and Evaluation revealed this during a media briefing on Friday.
The briefing outlined how different government departments would implement the Medium-Term Development Plan (MTDP).
According to the head of resources and planning Lindsay Martin draft estimates point to the development plan growing the country's economy by 3%.
“That number has in fact been informed by the MTDP process itself. There was some economic modelling work done which demonstrates that if you implement all the reforms as articulated in the MTDP, and you support the levels of investment required, that growth rate is achievable. There was also independent work done by the Bureau of Economic Research, for example, and they came to a similar conclusion.”