ANC’s manifesto is a growth plan
6 March 2024
The ANC notes the latest release from Statistics South Africa which indicates that the economy grew in real terms by 0,6% in 2023. The fact that gross fixed capital formation increased by 4,2% during 2023 is testament to ANC President Cyril Ramaphosa's ongoing emphasis on the need to promote investment in the South African economy.
Through structural reforms, investment conferences, and close, ongoing work with business and labour constituencies, investment levels are steadily being raised. Investment in South Africa's present and future is the key to unlocking higher levels of economic growth and job creation. Sectors that contributed to growth during 2023 were finance, real estate, and business services; transport, storage and communication; personal services and manufacturing. This is in large part due to the ongoing economic programme of the ANC-led government, which has prioritised interventions to promote growth and job creation in the South African economy.
In the fourth quarter of 2023, improved electricity output which had a positive impact on the manufacturing sector, increased levels of mining and growth in tourism numbers played an important role in lifting economic activity and ensured that South Africa's annual growth remained positive.
Through our election manifesto, the ANC is working to secure a renewed mandate from South Africa' s people to accelerate our economic growth and job creation efforts. It is only through a sustained period of economic growth that we will be able to transform our economy, reduce unemployment and ensure a better life for all.