President Cyril Ramaphosa says the government will finalise a clear economic growth strategy in a few weeks’ time.
His statement is contained in the first of his weekly message to the nation.
Ramaphosa says the aim is to boost confidence in an economy that’s facing low growth and high unemployment.
Investor confidence in South Africa is fragile, with the economic growth outlook clouded by a lack of clarity and progress on reforms.
The country has seen a decade of deepening poverty.
Ramaphosa says in 2019, the economy will record growth that lowers than expected.
He says government finances are stretched and several industries are looking at cutting jobs.
Last week, miner Sibanye-Stillwater said it planned to cut around 5 270 jobs as it restructures its loss-making Marikana operations in the North West.