Deputy President Paul Mashatile has stressed the urgent need to tackle the nation’s pressing challenges in light of sluggish economic growth and has called for a collective effort to improve the quality of life for all citizens.
“As we embark on this journey, we must have a full appreciation that the first 15 years of democracy were characterised by high economic growth. However, the last decade and a half has been characterised by stagnant growth,” he said on Thursday.
According to the Deputy President, the stagnant growth of the past decade and a half has led to calls for immediate action to initiate structural reforms that would bolster gross domestic product (GDP) growth and create job opportunities.
“I must state from the onset that the responsibility of guiding South Africa to greater prosperity is not solely on the shoulders of the government. It is a shared responsibility among the business community, NGOs [non-governmental organisations], civil society and all those who aspire to see our country prosper.”
The Deputy President was speaking at the 7th BizNews Conference (BNC#7) at the Hermanus Municipal Auditorium in the Western Cape.
The BizNews Conference is an annual event focused on investment, business, and political issues.
The country’s second-in-command opened the dialogue with a reflection on South Africa’s democratic journey.
Mashatile underscored the issues plaguing the nation, including poverty, inequality, unemployment and corruption, which he believes threaten the fabric of South Africa’s democracy.
“They keep us, and if I may say so myself, awake at night because if we do not swiftly overcome these systemic economic issues, we shall experience perpetual unrest.”
Commitment to cooperation
He said the recent Budget Speech by the Minister of Finance highlights a step toward addressing these dilemmas.
According to the Deputy President, yesterday’s Budget was the product of a consensus reached within the Government of National Unity (GNU) following last month’s postponement.
“As I have indicated on several occasions, having a GNU Cabinet does not imply that we will agree on everything. There will be times when we do not view things the same way, but this does not spell the end of the GNU.”
However, Mashatile stressed GNU’s commitment to prioritising the needs of its citizens.
He also took the time to reinforce the credibility of the GNU amid scepticism about its longevity and effectiveness.
“Several coalition governments around the world have collapsed as a consequence of misunderstandings about the country’s Budget; this is but a reflection of democracy at work.”
The Deputy President assured attendees that the focus was on inclusive growth, job creation and addressing the high cost of living, while striving to build a capable and ethical State.
“We must do this to find solutions to the challenges that confront our nation,” he said. – SAnews.gov.za
