A fundamental change in economic policy is necessary if the government wants to cut unemployment and poverty by half within the next 10 years, the Congress of South African Trade Unions (Cosatu) said on Thursday.
At a media conference in Johannesburg after a three-day meeting of the central executive committee, Cosatu general secretary Zwelinzima Vavi said there are signs that the government is changing its economic strategies.
One of these is that no major privatisation programme has been announced for this year.
Vavi said some of the most obvious problems with the economy are that it is still dominated by a few big companies and that it is too mechanised.
He said a move to labour-intensiveness will help bring down unemployment and eradicate poverty. — Sapa