‘Growth cannot be 3% summit’: Ramaphosa outlines new government-business targets

President Cyril Ramaphosa said on Thursday the country would prioritise turning economic reforms into growth, investment, and jobs.

The president was speaking in Hyde Park, Johannesburg, addressing business and government stakeholders during the third phase of their partnership.

The government-business partnership has evolved through three phases, with the first focused on stability, the second on reform, and the third now targeting growth.

Ramaphosa, however, stressed that the state remained responsible for governance and service delivery.

The central focus of Phase 3 must be inclusive growth, jobs and confidence. Our immediate object is to lift economic growth above three percent. But growth of 3 percent cannot be the summit of our ambition.

It is a necessary threshold from which we must advance towards higher, sustained and more inclusive growth,

he said.