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News24 reports that trade union federation Cosatu has demanded that National Treasury should withdraw its recently released document on economic growth, saying it made government incoherent, confused and unreliable.
Speaking at a media briefing on Thursday, Cosatu’s deputy general secretary Solly Phetoe said they questioned why the document had been released without consultation with Cabinet. He stated: "In principle, Cosatu is open to all proposals from all quarters about how to address our economic crisis, in particular our rising levels of unemployment. But we have some questions about the draft economic recovery strategy document. The document is trying to exploit our economic crisis by pursuing a right wing agenda that was defeated in several ANC conferences. This document ventures into the domain of other departments and, at the same time, it does not offer any proposed real changes to the fiscal, monetary or other macro-economic policies, including inflation targeting." The 77-page report, Economic Transformation, Inclusive Growth and Competitiveness: Towards an Economic Strategy for South Africa, includes interventions and reforms to reverse the country's "downward trend" of economic growth. Treasury claimed the proposals could raise the country's economic growth rate by up to 3% and create as many as a million job opportunities. The SACP said it had "noted" the report and had "serious concerns".
- Read the full original of the above report by Lizeka Tandwa at News24
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