Chairperson of the African National Congress (ANC)’s Economic Transformation Sub-committee, Enoch Godongwana, says the party is not proposing to change the mandate of the South African Reserve Bank (SARB).
This, after the ANC said it believed the Reserve Bank should take into account goals such as job creation and boosting economic growth alongside its current focus on price stability.
This is contained in the ANC’s 2019 election manifesto which party president, Cyril Ramaphosa, unveiled at the Moses Mabhida Stadium in Durban on Saturday.
Godongwana says the intention is to ensure that there’s co-ordination between the monetary and fiscal authorities.
He says the ANC is not proposing to weaken the mandate of the bank.
The ANC wants the Reserve Bank to take into account goals such as job creation and boosting economic growth alongside its current focus on price stability, which is contained in the manifesto.
Ramaphosa says stakeholders should work together to improve the economy and create the much-needed jobs.
“We should work together to grow the opportunities available to our people. Let us grow the economy, so that all may have decent jobs and an improved quality of life,” says Ramaphosa.
Watch a related video:
