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NATIONAL ASSEMBLY
QUESTION FOR WRITTEN REPLY
QUESTION NO.: 1117
DATE OF PUBLICATION: 1 APRIL 2011
Mr S J F Marais (DA) to ask the Minister of Economic Development:
(a) With reference to growth in the gross domestic product (GDP), what are
the (i) goals and (ii) targets of his department over the Medium-Term
Expenditure Framework and (b) what are the (i) details and (ii) motivation
for these goals and targets?
NW1239E
REPLY
Government released the New Growth Path in November 2010, which targets
employment as the critical outcome required in order to achieve the goals
of reducing poverty and inequality and ensure balanced economic
development.
Increasing the number of jobs in the economy requires growth in GDP.
Expanding the number of jobs at the rate required to achieve the target of
five million new jobs by 2020 will require relatively high labour-intensity
of growth.
The Honourable Memberâs attention is drawn to the response to Parliamentary
Question 1118 that sets out the relationship between growth and employment
intensity.
Current projections of GDP growth for 2011 by the IDC and National Treasury
is 3,4% and by the SA Reserve Bank is 3,7%.
Over the period of the NGPâs jobs target (2011-2020), we will work to
improve the labour-intensity and employment-outcomes of economic growth,
with a progressive increase over the period to 2020 as the key measures
take effect.