President Thabo Mbeki’s International Investment Council (IIC) endorsed the medium-term budget policy delivered by the Department of Finance in Parliament this week, the Presidency said on Sunday.
It said the government’s goals for a higher gross domestic product and employment growth rates by 2014 were a step forward for South Africa, said a spokesperson in the Presidency, Mukoni Ratshitanga.
This emerged at the eleventh annual IIC meeting in Knysna in the Western Cape, which ended on Sunday.
”The council appreciated government’s consistency in pursuing sound economic policies as well as efforts to strengthen sustained and shared growth and 2014 targets of halving poverty and unemployment.”
Speaking on education and skills training however, the council said there was a need for continued improvement in quality.
A boost in exports to create sustainable employment was also emphasised.
Meanwhile, initiatives that would support the development of rural production, based on the financial savings of poor rural people, was discussed.
The council also said it was confident that the country would be able to mount a successful Soccer World Cup in 2010.
”South Africa is a unique country with a rich history, heritage and enormous potential. We call upon all sectors of South African society to throw their weight behind the 2010 World Cup.”
Members of the IIC included Anne Lauvergeon of the Areva Group; Victor Veckselberg of Renova and Frank Savage of Savage Holdings.
The government’s delegation included the ministers of trade and industry, finance, public enterprises and communications. – Sapa