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South Africa to Name Presidential Economic Task Team: ANC

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July 29 (Bloomberg) -- South Africa will appoint a presidential task team to focus on accelerating growth in Africa’s largest economy, Gwede Mantashe, secretary-general of the ruling African National Congress, said.

Members of the task team will probably be announced after a cabinet planning meeting that’s due to take place in the middle of August, Mantashe told reporters in Johannesburg today.

“We will appoint a task team to consult on how the bottlenecks to growth can be addressed,” he said.

The economy is set to expand at its slowest pace since a 2009 recession this year as a recession in Europe and mining strikes curb exports. The central bank has cut its forecast for economic growth for this year to 2 percent from 2.4 percent. That’s less than half the rate of expansion the government says is necessary to reach a goal of creating 5 million jobs by 2020.

To contact the reporter on this story: Amogelang Mbatha in Johannesburg at ambatha@bloomberg.net

To contact the editor responsible for this story: Gordon Bell at gbell16@bloomberg.net

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