President Cyril Ramaphosa has issued a statement clarifying that the role of the South African Reserve Bank (SARB) remains unchanged.
However, he stresses that the serious economic challenges facing the country need to be tackled “with a sense of urgency and unity of purpose”.
Priorities include a re-imagined industrial strategy that will grow jobs and participation in key sectors, Ramaphosa says.
He says it’s also important to address an improved energy mix, and ensure energy security.
According to the president, other areas that need to be addressed include speeding up infrastructure programmes; strengthening initiatives to tackle youth unemployment; and working towards an inclusive financial sector.
This needs to take place in a stable and supportive macro-economic framework in order to grow and develop the country, he adds.