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Economy, development to top special Cabinet meeting

Wed, 06 Feb 2013 11:44

Collins Chabane

The assessment of South Africa’s state of the economy and the implementation of the country’s National Development Plan will top the four-day Cabinet Lekgotla, which began in Pretoria, the Presidency said.

“It is at this meeting that we are hoping we will be able to discuss the implementation of the National Development Plan, with the understanding that the plan in some areas calls for tough decisions to be taken,” Minister for Performance Monitoring and Evaluation Collins Chabane told reporters at the start of the meeting.

The meeting comes at a time when there is uncertainty in the mining sector, with platinum giant Amplats reporting a R6.3 billion loss and facing the threat of retrenchments.

But Mineral Resources Minister Susan Shabangu moved to allay fears of instability in the sector when she told a mining indaba on Tuesday that South Africa was committed to creating a thriving and successful mining industry.

She pointed out that the number of mines had increased from 993 in 2004 to 1 600 to date, while associated revenue grew from R98 billion in the same year, to R370 billion by the end of 2011.

Chabane could not say whether the situation in the mining sector would form part of discussions in the lekgotla, only saying the extended meeting would discuss ways of sustaining economic growth, with a particular focus on the upcoming Brics summit to be hosted by South Africa for the first time. – SAnews.gov.za