In the context of stagnant growth, the ANC’s economic transformation document is rather vague on strategies for revitalising the economy, argues Professor Mills Soko.
The ANC’s economic transformation document, which will be discussed at the national policy conference in June, provides insights into the governing party’s thinking on economic policy and direction. But it is also characterised by vagueness, omissions, generalities and silences on some of South Africa’s prevailing economic realities.
The document starts by reaffirming the ANC’s resolutions at the Mangaung conference in 2012. These revolve around, among other things, tackling unemployment, poverty and inequality; increasing state-led infrastructure investment; implementing the National Development Plan (NDP), New Growth Path (NGP) and the Industrial Policy Action Plan; transforming the mining sector; and building a developmental state.