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BL Premium reports that National Economic Development and Labour Council (Nedlac) held its annual summit on Tuesday under the theme, “social compacting for economic recovery in the time of Covid-19”.
The virtual summit was addressed by Deputy President David Mabuza. The coronavirus pandemic ravaged the economy in 2020 as businesses were forced to shut down during the most stringent parts of the national lockdown. The economy subsequently lost 2.2-million jobs and is forecast to contract 8% in 2020. In October, President Cyril Ramaphosa announced an Economic Reconstruction and Recovery Plan, which hinges on an expanded public employment programme, a R1-trillion infrastructure effort mostly leveraged from the private sector, a pledge to accelerate energy generation, and a raft of structural economic reforms. National Council of Trade Unions (Nactu) general secretary Narius Moloto commented that the summit had to deal with the question of “how do we manage the resurgence of Covid-19 without closing down economic activity”. Business Unity SA (Busa) CEO Cas Coovadia said the summit would review the role of Nedlac during the pandemic. It would also tackle the issue of economic recovery because “it is central to the crisis facing SA today”.
- Read the original of the report in the above regard by Luyolo Mkentane at BusinessLive (paywall access only – scroll down)
Get other news reports at the SA Labour News home page