South Africa to Name Presidential Economic Task Team: ANCAmogelang Mbatha
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.