Explain aims of accelerated growth initiative for South Africa:

Aims of accelerated growth initiative for South Africa

The main aims of accelerated growth initiative for South Africa mandate are targeted at reducing unemployment and poverty while increasing the country’s gross domestic product growth rate to a sustainable level through marshaling government and private resources to “eliminating” constraints identified as:

  • infrastructure backlogs
  • shortage of skills and cost impact on low-skilled labour of the apartheid spatial system
  • poor international competitiveness of much of our manufacturing and tradable services sectors
  • the relative volatility of the currency
  • theregulatoryenvironmentforsmallandmedium-sizedbusinessandtheweaknessofthe Second Economy
  • the inadequate capacity of government organs to support economic development. Programmes put in place to “eliminate” these constraints include:
    • infrastructure investment
    • second-economy initiatives
    • skills and education (Joint Initiative for Priority Skills Acquisition)
    • industrial policies and sector strategies
    • macroeconomic policy
    • governance interventions

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