President Cyril Ramaphosa announced that South Africa would embark on a massive public works and job-creation drive in response to the new coronavirus pandemic.
The African National Congress (ANC) says it is optimistic that the implementation of the government’s plan which President Cyril Ramaphosa unveiled before a joint sitting of Parliament on Thursday, will lead to the recovery of the country’s struggling economy.
The President said his plan could unlock more than R1 trillion (nearly US$60,5 billion) in investment over the next four years and create more than 800,000 jobs.
He also announced a three-month extension of the special R350 (US$21) COVID-19 fund.
The ANC’s head of economic transformation, Enoch Godongwana says, “If you look at the approach of the President’s recovery plan, there are a number of elements in it. The first one is realising that the impact of COVID-19 is massive, and while employment is beginning to pick up since May after the easing of the restrictions, it is not sufficient.
“That is the reason why the first element is to provide income support in the form of the extension of the R350 for another three months.” - SABC