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

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African AlertsAugust 5, 2022

1 minute read

despite-all-the-documents,-there-is-no-social-compact-in-south-africa

‘Piece’ job: Unemployed men wait on the side of the road for someone to offer them work for the day. The government has been working on plans to reduce the soaring unemployment rate. (Delwyn Verasamy/M&G)

A decade ago, the National Development Plan (NDP) 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%.

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Duma Gqubule

Duma Gqubule is a financial journalist, analyst, researcher and adviser on issues of economic development and transformation

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African AlertsAugust 5, 2022

1 minute read

African Alerts