Despite all the documents, there is no social compact in South Africa

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COMMENT: Despite all the documents, there is no social compact in South Africa: The government has had many plans to boost the economy since 1994 but none have achieved their targets

set ambitious targets for the economy. These included a GDP growth rate of 5.4% a year and the creation of 11-million jobs by 2030.

The vision was to reduce the unemployment rate to 6%. There were targets to achieve an investment to GDP ratio of 30% and a public investment to GDP ratio of 10%. Subscribe to the M&G today for just R30 for the first three months* to gain access to this story and all our best journalism, subscriber-only newsletters, events and a weekly cryptic crossword.”

 

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