THEBE MABANGA
THE long-awaited Economic Recovery Plan unveiled by President Cyril Ramaphosa leaves a feeling that it will be good for the country, if it can be successfully implemented, yet even then may prove to be inadequate.
The first limitation it suffers from is its impact on growth.
This Economic Recovery Plan will, apparently, bring our economic growth up by 3% per annum in the next 10 years. But as the National Development Plan (NDP) notes, South Africa needs growth of between 5% and 7% to make a difference to its mountain of unemployment.
Yet under the circumstances, any growth will be welcome.
Ramaphosa notes that government looked at 54 areas of possible intervention, which were then narrowed down to the eight that were presented to Cabinet Lekgotla and whittled down to the four that were announced.
The first area is infrastructure, which represents the best pillar and the best hope for
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