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COSATU submission on Economic Governance and management as a review mechanism for the African Peer Review Mechanism for South Africa

Submission to the Joint Ad Hoc Committee on Economic Governance and Management


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COSATU wishes to thank the Honourable Chairperson and members of the Joint Ad Hoc Committee on Economic Governance and Management (the Committee) for the invitation and opportunity to comment on South Africa's readiness for economic governance and management as part of the African Peer Review Mechanism (APRM).

Several recent submissions to a range of organs of State, including government departments (notably the National Treasury, Joint Budget Committee, the DTI and NEDLAC) contain perspectives, recommendations and concerns of COSATU. In addition to specific issues we wish to discuss with the Committee, some of these submissions are selectively drawn upon to complement our input.

We would however attempt to focus our response on:

  • Standards and codes relating to efficient economic governance;

  • Prior economic evaluations and assessments as well as forecasts

  • The extent to which South Africa's macro-economic policies support sustainable development

  • The extent to which South Africa's economic policies are sound, transparent and predictable;

  • The status of South Africa's public finance management;
It is necessary to first provide the context and a summary of the current issues with regards to the process of the APRM thus far, particularly with regards to the inputs from civil society.

A substantial part of this submission uses recommendations emanating from the People's Budget Campaign Submission on the MTBPS 2005 to the Joint Budget Committee on 2 November 2005, since many of the concerns we have, have a direct bearing on COSATU's concerns and perspectives.

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