ANC subcommittee on economic transformation chairman, Enoch Godongwana, says the ANC has made progress on implementing some of its economic policies in the five-year period since its last conference in Mangaung.
Godongwana was addressing the media in the first of a two-week long series of briefings on the party's policies ahead of its national conference on December 16.
Here are some of the economic successes he said the ANC has made in five years:
- Key interventions have been made in infrastructure development
- Progress has been made in implementing Black Economic Empowerment opportunities, particularly through the Black Industrialist Programme
- Youth employment in the form of tax incentives has progressed
However, Godongwana also admitted there were some areas where the ANC has had challenges.
"Land reform has not progressed as much as we would have liked... What we have seen in recent years is that economic progress has stalled... Our economy has been performing less than other emerging economies in terms of growth. Investment has fallen largely due to lack of confidence...The implication of this has been decline in government revenues, while spending is increasing," he said.
"The first element is to build confidence in the economy. The second is to look at where the key structural reforms that need to be made to change this trajectory is."Suggest a correction