NEDLAC sets up high-level team to finalise economic recovery programme
13 August 2020 - 6:30pm
The National Economic Development and Labour Council (NEDLAC) – comprising government, labour, business and community as social partners – has set up a high-level working team to finalise an urgent economic recovery programme for South Africa.
Chaired by President Cyril Ramaphosa, the NEDLAC Forum for Economic Recovery met virtually today, Thursday, 13 August 2020, to discuss how South Africa can extricate itself from economic difficulties that have been worsened by the impact of the COVID-19 pandemic.
NEDLAC constituents agree that the economic crisis is increasing levels of vulnerability including extreme poverty and hunger and that measures are required to stem further declines in GDP, a worsening of the budget deficit and deeper job losses.
Social partners also agree that the fight against corruption must be intensified to ensure that wrongdoing does not undermine the economic recovery effort itself.