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LOCALISING NATIONAL GOVT ECONOMIC POLICY AND THE NEED FOR COOPERATIVESTRATEGY BRIEF OVERVIEW: ECONOMIC HISTORY • Pre-1994: stagnation & imminent crisis • 1994 to 2001: macroeconomic stabilisation • 2001-2014- accelerated growth, employment and equity MICROECONOMIC REFORM STRATEGY • Macroeconomic fundamentals in place but: unemployment, poverty & lack of equity • Dualistic nature of economy • New interventions required to achieve vision 2014 – Integrated Employment Strategy – Investing in economic infrastructure – Investing in human capital – Raising savings & investment levels ACTIONS REQUIRED • • • • • • Increase income levels of the poor ISRDS and URS implementation BEE and WEE Employment creation Social welfare and use of other grants Accelerated investment in infrastructure (priority projects) e.g IDZs • Accelerated skills development & aggressive recruitment of critical skills from other countries • Develop and implement appropriate investment incentives such as Critical Infrastructure Fund WHY ALIGMENT • Need to develop strategies within national economic framework • Build congruence and synergy between policies and programmes • Policy coherence & certainty important for building domestic confidence • Joint effort in programmes, initiatives and project have maximum impact HOW • Localisation of MERS basis for partnership • Sustained policy dialogue • Need to identify key priority projects which national and local spheres of government can work on, e.g spatial initiatives, logistics, economic infrastructure development, joint marketing initiatives etc • More effective IGR & coordination of activities between provinces, national & cities • Capacity building: strengthening of IDPs ito analysis of economic activities & opportunities: develop economic potential thank you