South Africa’s big economic plans

Increasing GDP growth to five percent over the next five years is one of the key economic targets of the 2014-19 Medium-Term Strategic Framework, released by Minister in the Presidency Jeff Radebe on Thursday.

The framework, which lists 14 key outcomes and associated activities and targets, would serve as a prioritisation framework for government, he told reporters in Pretoria and Cape Town.

Other key economic targets include increasing the rate of investment to 25 percent of GDP by 2019, and reducing the official unemployment rate from 25 percent to 14 percent by 2020.

On economic infrastructure, the document says key 2019 targets include increasing the electricity generation reserve margin from the current precarious one percent to 19 percent, and increasing the tonnage of goods moved by rail from 207 million tons last year to 330m tons.

The framework also spells out five-year targets for basic education, health care, crime, agriculture, housing, and service delivery, among others.

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South Africa’s big economic plans