Government's economic reconstruction and recovery plan is a "vision" and not the "transformative plan" the country needs, the Thabo Mbeki Foundation has said.
On Thursday, the foundation released a paper in which it provides an analysis on several economic recovery plans released last year for the country as it navigates the Covid-19 crisis. The country was expected to have contracted by 7% last year due to the impact of lockdowns restricting economic activity in an effort to slow the spread of Covid-19 and to help the health system manage cases.
Overall, the SA economy is expected to make a recovery this year with modest growth levels. The Reserve Bank sees the SA economy growing by 3.6%. By comparison, the International Monetary Fund forecasts growth of 2.8%.