Every year ahead of the budget speech, finance minister Tito Mboweni asks members of the public to share with him tips about how to allocate the budget to stimulate economic growth and alleviate poverty.
Mboweni, who is scheduled to table his budget in Parliament later this month, needs to look no further than the recently published 2020 review report of the National Development Plan (NDP) for inspiration rather than his publicity stunt, which creates an impression that ordinary citizens’ views are taken to heart by the ruling elite.
The 75-page review contains several tips for Mboweni on how to utilise the budget to meet his objectives. The review, conducted by the National Planning Commission (NPC), is an honest take on the number of failures by South Africa to implement the NDP since its adoption in 2012.
The NPC, the country’s planning think-tank and advisory body that was established in 2010, highlighted the failures but also offered recommendations for strengthening implementation of the NDP in its final decade of implementation.
When the document was released in 2012, it was intended to be SA’s long-term plan for achieving inclusive growth, prosperity and improvements in the quality of life of the country’s citizens. However, since its adoption, the economy has underperformed, barely recording growth.
This story is from the 18 February 2021 edition of Finweek English.
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This story is from the 18 February 2021 edition of Finweek English.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
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