Top SA ministers head to Davos

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IOL pic jan20 davos Reuters A man walks past the official logo of the World Economic Forum (WEF) inside the Congress Hall at the Swiss Alpine resort of Davos.

Johannesburg -

Seven ministers will represent South Africa at the World Economic Forum (WEF) in Davos, Switzerland, said the National Treasury on Sunday.

Spokesman Jabulani Sikhakhane said the ministers would update global business leaders on the country's plans to raise the level of economic growth.

The summit aimed to develop the insights, initiatives and actions necessary to respond to current and emerging challenges, he said.

“These challenges are according to WEF, due to the fact that profound political, economic, social and... technological forces are transforming our lives, communities and institutions.”

He said this year's forum took place as part of the global economy was showing signs of a pick-up in growth.

The World Bank's Global Economic Prospects report published last week pointed out that the slower pace of growth in emerging market economies was not a cause for concern, he said.

“The (World) Bank forecast that growth in emerging markets will rise from 4.8 percent in 2013 to 5.3 percent this year, 5.5 percent in 2015 and 5.7 percent in 2016.”

He said South Africa needed faster and more inclusive growth to reduce unemployment, poverty and inequality.

Ministers Yunus Carrim, Rob Davies, Pravin Gordhan, Derek Hanekom, Trevor Manuel, Edna Molewa and Ebrahim Patel would attend the summit from January 22 to 25. - Sapa



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