Mabuyane announces seven steps to grow EC economy

In his maiden budget speech, finance MEC Oscar Mabuyane announced seven steps to stimulate and grow the Eastern Cape economy.

“Our fiscal outlook is unpredictable and our equitable share is diminishing in real terms,” he said.

Mabuyane said this called for a concrete economic growth plan.

This includes:

• A skills revolution;

• An investment promotion to attract investors;

• A continuation of investing on socio-economic infrastructure;

• Unlock potential in key sectors to diversify economy;

• Transform the agricultural economy;

• Offer structured support to SMMEs; and

• Establish Isiqalo Youth Fund for young entrepreneurs.