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The ANC Welcomes Reserve Bank Quarterly Report
Source: allAfrica.com
Source Date: Tuesday, September 27, 2011
Focus: ICT for MDGs
Country: South Africa
Created: Sep 27, 2011

We agree with the Reserve Bank that we need a more aggressive approach to productive investment spend by both public and private sector if our economy has to achieve and sustain job creation target. We urge the private sector to expand the value add in the agricultural, mining and manufacturing sectors in order cushion our economy from international economic uncertainties and to create much needed jobs.

The South African Revenue Service (SARS) should address the sluggish value added tax collections and the banks must take advantage of the accommodative interest rate environment and increase the pace of bank loans and advances to the domestic private sector in order to stimulate our country's economic activity and to contribute in job creation.

Creating jobs and sustainable livelihoods is the challenge we should all rise to and that we should all share. Towards this end, the ANC through the economic transformation committee engage all the sectors of the economy to ensure common cause when it comes to economic growth that will result in job creation. The ANC intends to engage all economic stake holders so that there is national ownership in-terms of addressing the ills of unemployment.

In addition we share the concerns raised by our Minister of Finance , Pravin Gordham regarding the rate and quality of expenditure at local government level. As far as the ANC is concerned all local authorities have to focus on improving basic service delivery and ensuring that they have funds for the maintenance of infrastructure, as well as spend money on Infrastructure of a capital nature and cut all the frills, fat, pomp and ceremony.

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