Ramaphosa urges new administration to maintain economic reforms
President Cyril Ramaphosa has challenged the incoming administration to maintain the reforms established by the sixth administration.
In his weekly newsletter on Monday, Ramaphosa reflected on the economic reforms over the past five years.
He urged all parties to work together to sustain the momentum of reform, growth, and transformation.
This call to action comes as the National Assembly prepares to elect a new President on Friday following last week's general elections.
Ramaphosa said economic growth, transformation, and job creation have been central to his government’s agenda.
He warned that any deviation from these programs would derail the positive progress that has been made.
"Economic growth, transformation, and job creation have been at the center of the Sixth Administration’s program.
“Since 2019, we have implemented a range of growth-enhancing structural reforms to remove the constraints that have held back growth, attract higher levels of investment, and make our economy more efficient and competitive.
“These reforms include an overhaul of the energy sector to enable efficiency, stability, and greater investment in electricity generation, as well as the introduction of a more competitive electricity market.
“We have introduced private sector participation in the operation of port terminals, enabled open access to the freight rail network, and completed the auction of high-demand broadband spectrum.
“While we recognize the value of public-private partnerships, we have stressed that the state must continue to play a strategic role in the development and ownership of public infrastructure in the interest of the people," said Ramaphosa.
He noted that the implementation of these structural reforms has helped improve investor confidence.
"This has, in turn, enabled us, despite an extended period of load shedding, to attract investment into the economy across a range of industries.
“The structural reform process has produced tangible results and laid the groundwork for sustainable growth into the future.
“Regardless of the form or composition of the incoming administration, it is important that the momentum of reform be retained and sustained.
“While we have come a long way in the reform journey, much work still needs to be done to reignite growth in our economy.
“A change in direction would derail the positive progress that has been made and take us back to the starting blocks," added Ramaphosa.
ALSO READ:
