The Public-Private Growth Initiative (PPGI) holds the view that a growth rate of 5% and more is possible as long as certain enablers for the economy are realized and key inhibitors are eliminated.
The presidency revealed this in a statement following a meeting of the PPGI in Johannesburg.
The PPGI has been busy “forging a closer relationship between government and the private sector in which the alignment of plans and objectives of the two sectors can be enhanced”.
The PPGI believes that a higher growth trajectory for the local economy can be attained between now and 2023.
“The PPGI outlined enabling and inhibiting factors that impact on growth plans and called on government to address selected inhibitors in individual sectors such as construction, forestry, tourism, manufacturing, energy/renewal energy and health.”
With regard to tourism, the PPGI called on government to speed up visa application and eVisa processes.
In terms of construction, the PPGI declared that local industry competitiveness was undermined by a lack of infrastructure planning and implementation in conjunction with high tariffs.