DPU Working Paper - No. 87

Authors: Royston, L.

Publication Date: 1997

The first ever national democratic elections in April 1994 heralded fundamental transformation in South African society. For the first time South Africa had a shared national vision of reconstruction and development to bind the country and its people. The Reconstruction and Development Programme was published in November 1994 as government=s strategy for fundamental transformation.

In March 1996 national government launched its new macroeconomic strategy, AGrowth Employment and Redistribution@, simply referred to as GEAR. Government has committed itself to reduce the budget deficit, control inflation, reduce tariffs and exchange controls, offer tax incentives and invest in infrastructure backlogs to create an environment which is friendly to investors [RSA, 1996]. 

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