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Busa welcomes commitment to NDP

Johannesburg - Business Unity SA (Busa) on Wednesday welcomed the mini budget's re-affirmation of the government's commitment to the National Development Plan (NDP).

"Certainty and predictability in the policy environment remains essential for business and investor confidence," special adviser Prof Raymond Parsons said in a statement.

"Busa sees the mini budget as a realistic and balanced assessment of South Africa's economic prospects and challenges."

Parsons said the organisation was reassured by how the mini budget dealt with government spending and public debt management. This created an improved fiscal basis for the future, he said.

However, Busa was concerned that the already sluggish growth rate of 2.1% was expected to rise to only 3.5% by 2016. This was inadequate to reduce unemployment, inequality, and poverty.

Parsons said Busa supported Gordhan's call for greater co-operation between labour, business and the government.

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