A non-traditional approach was needed to improve South Africa's economy and address job creation and poverty eradication, Finance Minister Pravin Gordhan said on Wednesday.
South Africa and the world needed to discuss restructuring monetary policy to balance fiscal growth and job creation and poverty alleviation, Gordhan said at a briefing ahead of the Group pd 20 (G20) summit in Canada.
"Recent employment numbers that we are seeing from [Statistics SA] are depressing to say the least," he said, adding that business and society needed to work harder.
South Africa had a strong trading partnership with Europe, but it was now time to start looking at other countries, he said.
The 2010 FIFA World Cup had highlighted South Africa to the global economic world as well as to its citizens, that there was indeed a lot of potential.
"What we require is the same passion we are seeing over this FIFA World Cup period. People are going to places they've never been before, it's a new energy. Let's convert that energy and do things differently," he said.