Answer to Question #229573 in Macroeconomics for Nay

Question

How successful was the NGP in influencing economic growth and development in South Africa

Answer 1

Solution:

The New Growth Path (NGP) is a policy framework that was formulated by South Africa’s government with the goals to enhance growth, equity, and employment creation.

NGP has been successful in creating numerous jobs over the years, due to its commitment to prioritizing job creation in all economic policies. NGP has been able to identify mechanisms that enable South Africa to grow in a more equitable and inclusive manner while ensuring the South Africa development agenda is attained.

NGP identifies areas where employment creation will be possible on a wide or large scale as a result of significant global changes. NGP then develops a policy package in those areas identified to facilitate employment creation in those areas.