The core elements of the Growth Employment and Redistribution (GEAR) strategy of the South African government in 1996, under the leadership of the then finance minister Trevor Manuel were amongst other things: budget reform to strengthen the redistributive thrust of expenditure monetary policy to prevent a resurgence of inflation a reduction in tariffs to contain input prices and facilitate industrial restructuring, compensating partially for the exchange rate depreciation 1.1 With reference to the above, identify the macroeconomic objectives in these elements
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The macro economic objectives of these elements include promotion of employees and the economic growth.
Explanation:
- The major objective of GEAR is to empower the low-level employees and to boost up the economic standards of the nation.
- The mutual funds and the reinforcement process in GEAR motivate the employees more and to contribute more to the organization.
- When employment is increased, the economic growth of the country will be also enhanced.
- Management of inflation within the country is another objective of the organization.
To know more:
1) Explain three other key macroeconomic objectives of central government
https://brainly.in/question/16151608.
2) Aims and objectives of macroeconomic problems in india
https://brainly.in/question/12566218
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