The African National Congress (ANC) is looking at economic reforms that will speed up job creation, and these include a competitive and stable rand exchange rate, President Jacob Zuma said on Monday.
“The anticipated measures include appropriate fiscal and monetary policy measures that are actively directed to promoting larger number of jobs,” Zuma told delegates at the party’s policy review conference in the port city of Durban.
“These should be linked with measures to control inflation and improve efficiency across the economy, including through a more competitive and stable exchange rate,” Zuma said.
The ANC will be discussing currency intervention at the meeting. The rand hit a two-and-a-half year high against the dollar last week and the gains are seen as constraining growth in key sectors such as manufacturing. — Reuters