Why we need high economic growth
South Africa has overcome enormous obstacles, but the biggest problem we face as a nation remains: poverty. Too many South Africans live in poverty, struggling every day to get by. They are locked out of opportunity and unable to participate in the economic mainstream.
The only sustainable way to lift a nation out of poverty is to grow the economy. Economies like Peru, Singapore and Vietnam have all recently achieved growth rates of 8% - and this has allowed them to tackle social ills like poverty, unemployment and inequality. In fast-growing Brazil poverty has fallen from 20% of the population to 7% in five years.
Economic growth is essential for poverty eradication. No country has created jobs without growth.
In South Africa there are too many constraints to growth – and underpinning all of them is the fact that too many South Africans are left out of the economy and are unable to contribute to driving growth because they cannot find work, they cannot attain skills and they cannot start a business. Too few people participate in our economy.
The DA has a plan to change the South African economy from one that trickles along at 3% per year to one that grows at 8% so that we can lift millions of people out of poverty. We want to unlock the potential in the South African economy, break down the barriers between economic insiders and outsiders and make the market work for the many, not just the few.
Our plan is to build a dynamic, stake-holder-led economy that opens and expands economic opportunities to all. We believe South Africa has what it takes to grow at 8% and our plan will take us there.
The only sustainable way to lift a nation out of poverty is to grow the economy. Economies like Peru, Singapore and Vietnam have all recently achieved growth rates of 8% - and this has allowed them to tackle social ills like poverty, unemployment and inequality. In fast-growing Brazil poverty has fallen from 20% of the population to 7% in five years.
Economic growth is essential for poverty eradication. No country has created jobs without growth.
In South Africa there are too many constraints to growth – and underpinning all of them is the fact that too many South Africans are left out of the economy and are unable to contribute to driving growth because they cannot find work, they cannot attain skills and they cannot start a business. Too few people participate in our economy.
The DA has a plan to change the South African economy from one that trickles along at 3% per year to one that grows at 8% so that we can lift millions of people out of poverty. We want to unlock the potential in the South African economy, break down the barriers between economic insiders and outsiders and make the market work for the many, not just the few.
Our plan is to build a dynamic, stake-holder-led economy that opens and expands economic opportunities to all. We believe South Africa has what it takes to grow at 8% and our plan will take us there.
