President Ramaphosa’s economic recovery plan will see the rollout of infrastructure development worth billions of rands, steps to ensure a reliable energy supply within two years, a jobs stimulus programme and the industrialisation of the economy, driven by a massive buy-local campaign.
President Cyril Ramaphosa addresses a joint sitting of Parliament on 15 October 2020. Picture: @PresidencyZA/Twitter
CAPE TOWN – President Cyril Ramaphosa has unveiled the government’s plan for economic recovery.
The plan rests on four pillars.
These are the rollout of infrastructure development worth billions of rands, steps to ensure a reliable energy supply within two years, a jobs stimulus programme and the industrialisation of the economy, driven by a massive buy-local campaign.
At the same time, he’s announced that the special COVID-19 grants will continue to be paid for an extra three months, while stressing that the government cannot afford to continue paying them beyond this point.
Ramaphosa was addressing a joint sitting of Parliament on Thursday afternoon.
A call for South Africans to stand together, and a message of hope from President Cyril Ramaphosa: “In the aftermath of a fire, green shoots begin to emerge. The ash that will have formed enrich the soil and new life takes root to replace what was lost.”
Ramaphosa said that R100 billion from the Infrastructure Fund over the next three years would leverage investment of R1 trillion. The focus will be on schools, health and bulk water supply as well as ports, roads and rail.
He said that the implementation of the Integrated Resource Plan, the country’s energy roadmap, would be accelerated and said that within two years South Africa’s electricity woes would be fixed.
R100 billion will be spent over the next threes to stimulate job creation. Ramaphosa said that 800,000 job opportunities would be created in the coming months – programmes would be locally driven within communities.
Small, medium and large businesses will be supported in a drive to boost local production and to make the South African economy more competitive. He said that there would be a massive buy local campaign this festive season.
On crime and corruption, Ramaphosa said that he would make sure there was no political interference in law enforcement agencies’ work.