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The ambitious plan focuses on four key areas: a major public employment campaign, energy security, massive infrastructure development and the industrialization of the economy.
President Cyril Ramaphosa will present the country’s economic recovery plan in Parliament on October 15, 2020. Image: @ PresidencyZA / Twitter
CAPE TOWN – President Cyril Ramaphosa said Thursday that the economic recovery and reconstruction plan he presented in Parliament must be urgently implemented.
However, he recognized that implementation would be key.
The ambitious plan focuses on four key areas: a major public employment campaign, energy security, massive infrastructure development and the industrialization of the economy.
The plan was approved by the Cabinet last week and is based on agreements reached between the government, companies, workers and social partners in the national council for economic development and labor, Nedlac.
The R350 COVID-19 grant will be extended to help care for people in distress until the end of January, but Ramaphosa said the government could not afford any further extensions.
He said the plan to revive South Africa’s ailing economy must be urgently implemented.
It is focused on a rand 100 billion infrastructure development push over the next decade, with a portfolio of projects, some out of the box.
He stressed that job creation also occupies a central place.
“We have committed R100bn over the next three years to create jobs through public and social employment as the job market recovers. This starts now, with more than 800,000 job opportunities (to be created) in the coming months. “
Steps to boost the economy include making doing business easier and cheaper, and supporting small and medium-sized businesses, but Ramaphosa will have to convince critics of the government’s ability to implement the plan:
“It is clear that implementation will really be the key to making this recovery and reconstruction plan effective. This requires a more effective and efficient state, with greater coordination and integration between the national, provincial and local governments ”.
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