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The Western Cape Provincial Treasury publishes an annual Provincial Economic Review and Outlook to deepen the economic analytical platform that informs the Province’s annual budget decisions. In line with the Provincial Growth and Development Strategy, the 2006 PER&O stresses the importance of defining the desired form of growth that Government seeks to stimulate, and builds a deeper understanding of what shared growth and integrated development means for the Province. First, it recognises that economic growth that is accompanied by improved social equity will have a greater impact on reducing poverty than growth that leaves distribution unchanged. Secondly, it highlights that increased social inequality can offset the benefits of growth to the poor, reducing the poverty impact of future growth. Thirdly, it emphasises that growth has to be environmentally sustainable to have medium- to long-term benefits for reduced poverty and improved livelihoods. TIPS project-managed and edited PER&O 2006. |
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