Share

Vavi: Macro-economic policies must change

Johannesburg - The country's economic structure needs to change if 5% growth is to be achieved, Cosatu general secretary Zwelinzima Vavi said on Tuesday.

"From a Cosatu perspective we can never achieve the fundamental change we need in South Africa until we recognise that most of our wounds come from the fact that we inherited a growth path from the apartheid era," he said after President Jacob Zuma delivered his State of the Nation address in parliament.

"We need to change that structure, we need to move away from an economy which is dominated by mining, finance, and heavy chemicals."

Vavi said more focus needed to be put on industrialisation.

He said Zuma did not go "far enough" in his address on industrialisation.

Macro-economic policies needed to be changed.

Vavi welcomed Zuma's focus on the energy sector. However, he is not a fan of nuclear energy but supports renewable energy.

He bemoaned the fact that there have been forced power cuts again because of the strain on the country's power grid.

"We can't go on with these lights on, lights off," Vavi said.

We live in a world where facts and fiction get blurred
Who we choose to trust can have a profound impact on our lives. Join thousands of devoted South Africans who look to News24 to bring them news they can trust every day. As we celebrate 25 years, become a News24 subscriber as we strive to keep you informed, inspired and empowered.
Join News24 today
heading
description
username
Show Comments ()
Rand - Dollar
18.98
-0.4%
Rand - Pound
23.99
-0.4%
Rand - Euro
20.52
-0.3%
Rand - Aus dollar
12.36
-0.1%
Rand - Yen
0.13
-0.4%
Platinum
900.15
+0.4%
Palladium
1,000.00
-0.2%
Gold
2,213.05
+0.8%
Silver
24.68
+0.2%
Brent Crude
86.09
-0.2%
Top 40
68,237
+0.8%
All Share
74,414
+0.7%
Resource 10
57,122
+2.6%
Industrial 25
103,714
+0.4%
Financial 15
16,494
-0.2%
All JSE data delayed by at least 15 minutes Iress logo
Company Snapshot
Editorial feedback and complaints

Contact the public editor with feedback for our journalists, complaints, queries or suggestions about articles on News24.

LEARN MORE
Government tenders

Find public sector tender opportunities in South Africa here.

Government tenders
This portal provides access to information on all tenders made by all public sector organisations in all spheres of government.
Browse tenders