FFC wants government focus on agriculture to grow the economy

In a virtual media briefing, Chairperson Daniel Plaatjies said the impact of the Covid-19 pandemic on the economy is worrisome.

"The pandemic has caused an unprecedented shock to people’s livelihoods and compounded and accelerated existing structural fragilities in the economy. It pushed the already weakened fiscal metrics downward faster than anything ever seen since the financial crisis a decade ago. The pandemic has further intensified the existing inequalities and condemned many people into poverty and unemployment."

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The FCC was bemoaning a continuous decrease in available funding for the agricultural industry.

"To ignite growth and development, the Commission advises a focus on the agricultural economy. Despite global consensus of the ability of the agriculture sector to eradicate poverty, attract foreign investment, create jobs, and stimulate the economy, public expenditure into agriculture has been nothing short of dismal, consistently diminishing. In establishing food security, agriculture has the ability to simultaneously raise productivity, incomes, and employment with broad effects across economic sectors," said Plaatjies.

Plaatjies said the economic and social consequences of the pandemic are rooted in structural inequalities and the government needs financial solutions that directly deal with inequality.

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