Today's Labour News

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southafricalogoBusinessLive reports that according to the head of the National Planning Commission (NPC) secretariat, Tshediso Matona, South Africa is far off from the targets of the National Development Plan (NDP).  

Speaking at the Vision 2030 Summit at Emperors Palace on Wednesday, Matona said:  "The NDP is very ambitious given the current context.  We cannot achieve this if we stay along this path that we’re on."  Growth in the economy would fuel the momentum, but this was dependent on investment, he noted.  Matona called on the private sector to play its part, saying:  "We have nearly R1-trillion of public sector investment planned for the next three years but the private sector also needs to play its part."  The goals of the NDP are to eliminate poverty and reduce inequality by 2030.  This calls for sustained growth of 5.4% and a 6% decrease in unemployment by 2030.  However, growth is expected to average 1.5% in 2018, according to Treasury, and unemployment remains very uncomfortably high at 26.7%.

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