Mboweni's plan gets nod from ANC caucus as it acknowledges economy has stalled

Acknowledging that the South African economy has stagnated, the ANC parliamentary caucus welcomed Finance Minister Tito Mboweni's economic strategy blueprint to boost growth and create jobs.

Discussing the outcome of the ANC parliamentary caucus's lekgotla, which was held this weekend, ANC chief whip Pemmy Majodina described the plan Mboweni released two weeks ago as a "draft document that encourages debate".

She said the ANC caucus welcomed it.

"The lekgotla welcomed the initiative by the government to start a national conversation on how to boost the South African economy in the short term," Majodina added.

"The economic transformation cluster will lead this national conversation as it affects all South Africans. Furthermore, we call on all South Africans to contribute to this very important discussion."

She said the lekgotla welcomed the policy certainty displayed by the government, in particular, the policy direction for the licensing of the high demand spectrum, which was approved by the Cabinet.

"The lekgotla noted concerns about the implementation of reforms in visa regulations, which are crucial for boosting the tourism sector in our country.

"It acknowledged that the South African economy has stagnated," Majodina said.

She added the caucus had resolved that the ANC in Parliament would "move with greater vigour to ensure that the government implements decisive policy measures to reignite inclusive growth and create jobs".

While the ANC caucus welcomed Mboweni's document, the ANC's alliance partners, Cosatu and the SACP, expressed their dissatisfaction with the plan.

Mboweni's 77-page report was released on the National Treasury's website on August 27.

Many of the proposed reforms draw on existing proposals in other documents, including the National Development Plan.

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