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President Cyril Ramaphosa said that infrastructure, electricity and industrial growth were also the main pillars of the new economic recovery plan, with 100 billion rand allocated by the government to stimulate employment.
President Cyril Ramaphosa addresses a joint session of Parliament on October 15, 2020. Image: @ PresidencyZA / Twitter
JOHANNESBURG – With the government’s economic recovery now on the table, political parties hope to discuss the strategy in a debate next week.
Although the four-point economic plan has had mixed reactions, some organizations said it simply did not go far enough.
• READ: President Ramaphosa’s Economic Recovery Plan for SA
The president told Parliament that at least 800,000 jobs would be created in the coming months.
He said infrastructure, electricity and industrial growth were also the main pillars of the new plan, with R100 billion allocated by the government to stimulate employment.
However, in his reaction, ActionSA leader Herman Mashaba said the president seemed incapable of making the tough reforms the economy needed for fear of alienating factions within the ruling party.
The Democratic Alliance (DA) said the president’s speech was not the courageous compromise he had hoped for.
The party’s shadow finance minister, Geordin Hill-Lewis, said: “We have heard many of these promises many times since President Ramaphosa was elected three years ago and yet there has been extremely slow progress, if it is that there is some progress, on most of these issues. “
More clarity on the strategy to drive growth was also requested.
Iraj Abedian of Pan African Investments and Research said President Ramaphosa fell short on some issues.
“Political paralysis has been the hallmark of the government for the last six or seven years, but especially for the last two years and the president did not address the issue of how the political paralysis is going to break.
But there were some positive notes to take away from what was said.
“The open recognition and commitment that it will not interfere in the legal fight against corruption is an important commitment of the head of state.”
LOOK: 5 key points of the economic recovery plan
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