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NEDLAC Gives Green Light to Economic Recovery Plan

September 17, 2020

The Presidency

The National Economic Development and Labour Council (NEDLAC) has given the green light to an action plan for economic recovery.

In a statement, the presidency confirmed that the action plan will be tabled before cabinet for finalization and approval.

The presidency added that the plan is aimed at building confidence and placing South Africa on a path of investment and growth.

The plan was approved by the NEDLAC Forum for Economic Recovery chaired by President Ramaphosa.

The action plan is “founded on significant convergence on what needs to be done to set the economy on a new, accelerated, inclusive and transformative growth trajectory”.

According to the presidency, the social partners have also agreed on a “social compact which commits government, business, labour and community to mobilising funding to address Eskom’s financial crisis in a sustainable manner”.

The details of the action plan will be announced once it has been finalised by cabinet.