South Africa's ruling party to implement economy-boosting measures

Source: Xinhua| 2019-10-03 09:43:08|Editor: Shi Yinglun
Video PlayerClose

JOHANNESBURG, Oct. 2 (Xinhua) -- South Africa's ruling party African National Congress (ANC) on Wednesday said it is implementing some measures to grow the economy and address poverty and unemployment.

"The National Executive Committee (NEC) considered and agreed on a range of economic policy interventions to achieve a higher rate of economic growth and economic inclusion," said ANC Secretary-General Ace Magashule, when addressing the media on the resolutions of the committee's conference held last weekend.

Magashule said the committee is resolved to strengthen the local government and implement structural reforms to grow the economy and fight gender-based violence.

The reform measures include capacitating and financing small- and medium-sized enterprises, improving the state-owned enterprises' performance and enhancing mining and energy sectors.

He said the government will "modernize network industries such as energy, transport and telecommunications," and also prioritize growth in labor-intensive sectors, such as agriculture, tourism, clothing and mining.

Magashule said, "the overarching objective of economic policy remains to build an inclusive economy by stimulating investment, growth and job creation and thereby decisively tackling poverty and inequality, raising living standards and improving the well-being of all South Africans."