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President Ramaphosa’s economic recovery plan will see the deployment of billions of rand worth of infrastructure development, measures to ensure a reliable power supply within two years, an employment stimulus program, and the industrialization of the economy, driven by a massive local buying campaign.
President Cyril Ramaphosa addresses a joint session of Parliament on October 15, 2020. Image: @ PresidencyZA / Twitter
CAPE TOWN – President Cyril Ramaphosa unveiled the government’s plan for economic recovery.
The plan rests on four pillars.
These are the deployment of infrastructure development worth billions of rands, measures to guarantee a reliable power supply in two years, an employment stimulus program and the industrialization of the economy, driven by a massive local purchase campaign. .
• READ: President Ramaphosa’s Economic Recovery Plan for SA
At the same time, he announced that special COVID-19 grants will continue to be paid for an additional three months, while emphasizing that the government cannot afford to continue paying them beyond this point.
Ramaphosa addressed a joint session of Parliament on Thursday afternoon.
A call to South Africans to stand together and a message of hope from President Cyril Ramaphosa: “After a fire, green shoots begin to emerge. The ash that will have formed enriches the soil and new life takes root to replace what is lost.”
Ramaphosa said that R100 billion from the Infrastructure Fund over the next three years would leverage the R1 billion investment. The focus will be on schools, health and bulk water supplies, as well as ports, roads and railways.
He said the implementation of the Integrated Resource Plan, the country’s energy roadmap, would be accelerated, and said that in two years South Africa’s electricity problems would be solved.
R100 billion will be spent over the next three to stimulate job creation. Ramaphosa said 800,000 job opportunities will be created in the coming months; the programs will be promoted locally within the communities.
Small, medium and large companies will be supported in an effort to boost local production and make the South African economy more competitive. He said there would be a massive local buying drive this holiday season.
On crime and corruption, Ramaphosa said he would ensure that there was no political interference in the work of law enforcement agencies.
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