Address by President Nelson Mandela on the launch of the Macroeconomic Strategy

14 June 1996

Today, the government launched the Macroeconomic Strategy for growth, employment and redistribution.

Through this act, we have established the foundation upon which the implementation of the Reconstruction and Development Programme can be speeded up. Together, we have taken yet another giant step towards realising, with expedition, the aims of job creation and income redistribution that the nation yearns for.

The rapid economic growth that the macroeconomic framework envisages is critical if we must address, with even better results, the poverty afflicting millions of South Africans, and render the quality of health, housing, education and other amenities they deserve. The framework is crucial for us to take full advantage of the opportunities deriving from the recent depreciation of the Rand.

This Macroeconomic Strategy is the basic economic policy framework of the government until the beginning of the next century. The government has consulted and will continue to consult with all role players, and take their views into account, in carrying out the details of the programmes outlined in the Strategy.

We are convinced that, by creating the necessary conditions for the rapid implementation of socio-economic programmes, and the environment for increased private and public investment, the strategy will redound to the benefit of society as a whole. Within government, it will help give context to the policy and practical work of various departments; and ensure that the fiscal and monetary authorities are even better able to focus their work towards clear common goals.

Details on such elements as labour market policy and restructuring of state assets will be announced by the relevant ministers in due course.

We do not expect everyone to agree with everything contained in the document. And there are instances where role players in the economy at all levels may be called upon to make minimal sacrifices for the common good and for greater social benefit. In this regard, we are heartened by the consensus across the board, including within business and labour, on the broad policy positions contained in the document.

The Macroeconomic Strategy is for the benefit of the nation as a whole: the employed and unemployed, big and small business, professionals and other sectors. For it to work and produce the desired results, it requires the co-operation of the whole nation, in the spirit of our New Patriotism.

Together, let us reach for the stars!

Issued by: Office of the President

Source: South African Government Information Website