President Cyril Ramaphosa held a joint sitting of Parliament on Thursday to table a recovery plan amid the novel coronavirus surge. He said that the government has committed R100-billion over the next three years to realise the plan.
The plan’s objectives are to create jobs through aggressive infrastructure investment and mass employment programmes, to re industrialize our economy focusing on growing small businesses, to accelerate economic reforms to unlock investment and growth, to fight crime and to improve the capability of the state.
Ramaphosa’s plan is to raise growth to around three-percent on average over the next 10 years.
The president said that more than 60-thousand jobs will be created for labor-intensive maintenance and construction of municipal infrastructure and rural roads and a further 740 000, creating 800 000 jobs in total as per recovery plan.
“We must get our people back into the jobs they lost in the pandemic.”
He added that; “we are determined to create more employment opportunities for those who were unemployed before the pandemic, or who had given up looking for work.”
Fifty strategic projects are to be fast-tracked enabling R340-billion in new investment but the plan will rely heavily on a secure energy supply, which Ramaphosa is promising within the next two years.
“In the immediate term, agreements will be finalised with Independent Power Producers to connect over 2000mw of additional capacity from existing projects by June 2021,” Ramaphosa said.
The South African economic recovery plan builds on the common ground established by the social partners –government, labour, business and community organisation –through intensive and detailed consultations over the last few months.
Parliament is due to debate the plan as soon as next week.