The Minister of Finance Tito Mboweni convened the second colloquium on the South African economy on Saturday (19 January 2019) to discuss ways to achieve higher and more inclusive growth. Participants at the colloquium included the Minister of Trade and Industry Rob Davies, Governor of the South African Reserve Bank Lesetja Kganyago and Deputy Governor Daniel Mminele, academics, private sector economists, key government officials, business people and international experts.
The first colloquium was held on 21 December 2018 where government officials and other experts presented policy proposals to raise the level of South Africa’s economic growth. These proposals were tested through discussion with economists from the private sector and academia, including Professors Ricardo Hausmann and Robert Lawrence, both of Harvard University. This second colloquium also attended by Harvard University’s Professor Dani Rodrik.
Discussions at both colloquia placed particular emphasis on interventions that encourage new models and paradigm shifts in support of faster and more inclusive economic growth. The outcomes of the colloquia will form the basis of an economic strategy for South Africa which will be submitted to Cabinet for its consideration.
“The colloquium is a classic example of the interaction between the state, academia, private sector and other sectors of society. Our objective is to think through what could be in the best interest of South Africans in the medium to long-term. We will continue to canvass the views of as many South African and international economic experts as is practically possible,” Mr Mboweni said.