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To preserve existing jobs and create new ones, South Africa will focus on an infrastructure-based strategy as part of its primary coronavirus recovery plan, says President Cyril Ramaphosa.
In a virtual speech following an ANC lekgotla on Monday, the president said that this infrastructure plan will include investments in energy, water, public transportation and other areas.
“The path and speed of economic recovery will depend on many different factors, and the lekgotla developed criteria and timelines to guide the government’s actions in various areas,” he said.
Ramaphosa said the key areas include:
- Strengthening of energy security;
- Localization through industrialization, including a “prosperous” local industrial base;
- Strengthening of food security;
- Investment and delivery of infrastructure that meets the objectives of the PND;
- Tourism support;
- Green economy interventions;
- Public employment programs;
- Gender equality and economic inclusion of women and youth;
- Macroeconomic policy interventions.
“By addressing these key areas of economic focus, the ANC supports a phased approach to our economic recovery,” said Ramaphosa.
The president said the first phase focused on saving lives and included a massive health response.
The second phase focused on saving livelihoods and included support for households and businesses, including various social and business grants.
“In the third phase, we are going to implement a reconstruction and recovery program. The ANC will guide the government’s work, working with the social partners to generate higher rates of economic growth, investment and job creation.
“Our goal is to radically transform our society to be truly non-racial, non-sexist, and more economically inclusive.”
Infrastructure
Ramaphosa said that the country’s reconstruction and recovery will be driven by infrastructure, with a focus on energy sector reform and security.
It will also include large-scale investments in:
- Water and sanitation;
- Lane;
- Ports;
- Roads and bridges;
- Human settlements;
- Health;
- Education and skills development;
- Digital infrastructure; Y
- Public transport.
“The program will be inclusive as it will focus on local employment and seek to overcome patterns of economic marginalization while transforming the structure of the economy,” said the president.
He said the program also aims to include SMEs and cooperatives and recognize their role in job creation, particularly for young people and those people entering the labor market for the first time in all economic sectors.
“To achieve significant job creation multipliers, emphasis will be placed on localization, including maximizing the use of South African construction materials and companies, as well as labor-intensive methods.”
Read: Ramaphosa Launches New R84 Billion Megacity In Gauteng
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