By Kim Saulse
11 November 2009
The Minister of Economic Development, Ebrahim Patel ,says government would like to engage in an open debate with trade unions and private-sector economists on how to make the Rand more competitive.
Patel says Cabinet had agreed that the country needed a more competitive exchange rate and pointed out that the problem was that while a strong rand brought down the cost of imports, it raised the price of exports.
Briefing the media on the progress made by the Economic Sectors and Employment cluster, Patel said 7 431 workers in the automotive sector had been sent on training programmes as part of the government’s training layoff scheme.
11 November 2009
The Minister of Economic Development, Ebrahim Patel ,says government would like to engage in an open debate with trade unions and private-sector economists on how to make the Rand more competitive.
Patel says Cabinet had agreed that the country needed a more competitive exchange rate and pointed out that the problem was that while a strong rand brought down the cost of imports, it raised the price of exports.
Briefing the media on the progress made by the Economic Sectors and Employment cluster, Patel said 7 431 workers in the automotive sector had been sent on training programmes as part of the government’s training layoff scheme.
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