Answer to Question #235478 in Macroeconomics for Momo

Question

How successful was the New Growth Path in influencing economic growth and development in South Africa

Answer 1

Solution:

The New Growth Plan policy framework has been very successful in influencing economic growth and development in South Africa. This is through the following:

·        It has enhanced economic growth through prioritizing in key areas such as agriculture, mining, manufacturing, and tourism sector including the green economy.

·        It has enabled unlocking of more employment opportunities for the youth thus reducing the level of unemployment rate which was staggering.

·        It has enabled South Africa to grow in a more equitable and inclusive manner while attaining South Africa’s development agenda.

·        It has led to proper use of public resources in order to curb wastages and high levels of corruption.   

·        It has led to more accountability and responsibility for South Africa’s government when it comes the delivery of public resources.