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Acting DG GCIS Phumla Williams unpacks 06 June Cabinet Meeting Statement

241 views · Published 8 June 2018 · 6:38 · Indexed 26 September 2026

Channel: GovernmentZA · 2018 · News & Politics

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Cabinet met on Wednesday, 6 June 2018, at the Union Buildings, Pretoria.

A. Issues in the environment

1.Economy

Cabinet has noted the decline of 2,2% in the Gross Domestic Product (GDP) in the first quarter of 2018. Statistics South Africa (StatsSA) released the figures this week. The agriculture, mining and manufacturing industries contributed to the decline in this first quarter. Cabinet has mandated the Economic Cluster Ministers to urgently meet to discuss the way forward with regard to these figures. 

The GDP results bring into sharp focus the need for all sectors of the country to work together to support South Africa’s local economy. Business and labour need to continue to work with government in support of initiatives such as the Nine-Point Plan to stimulate economic growth and create much-needed jobs. One of its key pillars is the Industrial Policy Action Plan (IPAP), which focuses on increasing manufacturing, employment creation and exports. Cabinet is confident that the IPAP will help grow our industrial sector and economy.

Later this year, government will host an International Investment Summit to profile South Africa as an investment destination. The aim of the event is to work towards generating R1,2 trillion in new investments over the next five years, which will have a significant impact on economic growth and employment creation.

Read more: https://www.gov.za/speeches/statement-cabinet-meeting-6-june-2018-8-jun-2018-0000

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