Transcription of Towards an Economic Strategy for SA - National Treasury
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Towards an Economic Strategy for SA - National Treasury
Economic transformation, inclusive growth, and competitiveness: Towards an Economic Strategy for South Africa Prepared by Economic Policy, National Treasury Abstract: The combination of low growth and rising unemployment means that South Africa's Economic trajectory is unsustainable. Government should implement a series of growth reforms that promote Economic transformation, support labour-intensive growth, and create a globally competitive economy. We start by highlighting five fundamental building blocks of sustainable long-run growth and then identify a series of specific and detailed reforms to raise potential growth. These growth reforms are organized according to the following themes: (i) modernizing network industries; (ii) lowering barriers to entry and addressing distorted patterns of ownership through increased competition and small business growth; (iii) prioritizing labour-intensive growth in sectors such as agriculture and services, including tourism; (iv) implementing focused and flexible industrial and trade policy; and (v) promoting export competitiveness and
development, bulk water supply, and wastewater management; including applying lessons from the successful renewable energy independent power producers programme. An independent water regulator can improve the overall efficiency of water provision and improve price setting. The implementation of a national water conservation programme
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