THE OECD's latest Economic Survey has indicated that South Africa needs to step up efforts to foster strong, inclusive economic growth that creates jobs. Priorities include a growth-enhancing macroeconomic policy-mix, and better implementation of structural reforms, notably to improve education.

The Survey, presented in Pretoria by OECD Secretary-General Angel Gurría and South African Minister of Finance Pravin Gordhan, recognises also the important advances South Africa has made in recent years. “South Africa has recorded tremendous success in a number of economic and social policies,” Mr Gurría said. “Per capita income is rising, public services are expanding, health indicators are improving and public finances are in better shape than in many OECD countries.”

However, the country is growing at a slower pace than other leading emerging economies, according to the Survey. “A high proportion of the population is out of work; offering people a brighter future by creating jobs is a policy priority,” Mr Gurría said. “Income inequality remains high, educational outcomes should be improved and access to education needs to be inclusive. Environmental challenges like climate change and water scarcity need to be tackled to make economic growth green and sustainable. There is unfinished business that will require additional reform efforts.”