Earlier this week, the Department of Economic Development (EDD) briefed the Select Committee on Economic and Business Development on progress made on the implementation of the New Growth Path (NGP), which according to the EDD, was “developed to address the legacy of inequality with regard to access to resources, skills, investment economic growth and development that still reflect in our economy”.
With the prioritisation of the eradication of poverty, unemployment and inequality, the presentation focused on how the NGP will respond to challenges such as these, as well as economic growth, and how it will “create the much needed jobs” in South Africa.
The NGP sets an ambitious target of creating five million jobs and reducing unemployment from 25% to 15% by 2020. Is this possible with the current economic growth trajectory and rate of unemployment? Take a look.