1 July 2009
South Africa’s new Department of Economic Development will be set up in phases, and is expected to be fully operational by April 2010, says Economic Development Minister Ebrahim Patel.
Patel was addressing journalists at Parliament in Cape Town on Tuesday ahead of the Trade and Industry budget vote, which was shared by the Department of Economic Development and Department of Trade and Industry (DTI).
Until it receives its own budget from the National Treasury, the new department will receive its funds from the DTI.
Patel said the costs involved in setting up the new department would be accommodated via a “ring-fenced item of the DTI’s budget” until the Appropriation Adjustment Bill in October, which makes provision for new departments.
Patel said his department would be responsible for economic development policy making, planning and implementation, and would work collegially within the Cabinet to ensure coordination around job creation in South Africa.
“The department will be responsible for developing economic policy with a broad, cross-cutting focus so that macro and micro-economic policy reinforce each other and are both aligned to the election mandate.
“Some of the areas that the ministry will focus on, as soon as the department is fully set up, are the priorities set out by the President in the state of the nation address,” Patel added.