What to expect from Ramaphosa’s new recovery plan for South Africa
The National Economic Development and Labour Council (Nedlac) has agreed to an action plan for South Africa’s economic recovery, the presidency said in a statement on Tuesday evening (15 September).
The plan will is directed towards building confidence and placing South Africa on a path of investment and growth.
“Social partners have identified priority areas for rebuilding the economy as well as structural reforms and other programmes which will enable sustainable and inclusive growth with an intensive focus on job creation,” the presidency said.
While the final details of the plan will only be announced once it is finalised by the cabinet, the presidency said that a core focus will be on addressing Eskom’s structural and funding problems.
“Social partners have also agreed on a social compact which commits government, business, labour and community to mobilising funding to address Eskom’s financial crisis in a sustainable manner – in return for an efficient, productive and fit-for-purpose Eskom that generates electricity at affordable prices for communities and industries,” it said.
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