Following yesterday's announcement of the sharp drop in GDP for the first quarter, Stephen Grootes asked ANC head of the Commission on Economic Transformation, Enoch Godongwana if the ANC has a plan to get the economy going.
The ANC, like everybody else, is worried about what is going on. We got the signals early when Stats SA issued the labour force survey.— Enoch Godongwana, ANC head of the Commission on Economic Transformation
Godongwana says those results were a sign of a correlation between large scale job losses and the latest GDP figure.
He says this is not just an ANC concern.
It will require business, labour and government working together to achieve those objectives.— Enoch Godongwana, ANC head of the Commission on Economic Transformation
Godongwana stressed 3 key points.
He says the ANC must build confidence both domestically and internationally by saying they support Minister Gordhan's fiscal consolidation programme.
They also stress a need to "identify the key sectors that are labour absorbing and shift focus and provide incentives for those sectors."
Lastly, he says they are looking at some of the regulatory issues which will impact on costs.
Stephen Grootes asked him how this was going to be implemented, when it seems nothing is really happening.
The problem with South Africans, is we are too negative. We have simplified a number of things.— Enoch Godongwana, ANC head of the Commission on Economic Transformation
He lists among these environmental permits, water licences, mining licences.
Red tape around investment has also been implemented on the ground he says.
We have put up a one stop shop to deal with those issues.— Enoch Godongwana, ANC head of the Commission on Economic Transformation
He says a policy environment needs to be created which facilitates implementation.
Listen to the interview below: