President Cyril Ramaphosa says R100 billion will be set aside to create about 800 000 jobs over the next few years. It forms part of the Economic Recovery Plan he tabled in Parliament today. Ramaphosa says the government is determined to create more jobs.
He says this will be done through an infrastructure development program, a focus on local manufacturing and the creation of reliable energy within two years. He also promises that data will become cheaper.
Ramaphosa says according to the modeling of the national treasury, the implementation of the plan will increase the annual growth rate in the country to 3%, over the next decade.
Ramaphosa also announced that the special Covid-19 grant for the poor will be extended for a further three months.
Read the full speech here:
"We have committed R100 billion over the next three years to create jobs through public and social employment as the labour market recovers. This starts now, with over 800,000 employment opportunities created in the months ahead." – President Ramaphosa #BuildingANewEconomy pic.twitter.com/SRQV7MtXjp
— South African Government (@GovernmentZA) October 15, 2020
"We are accelerating the implementation of the Integrated Resource Plan to provide a substantial increase in the contribution of renewable energy sources, battery storage and gas technology" – President Ramaphosa #EconomicRecoveryPlan #BuildingANewEconomy pic.twitter.com/VvkBY6BSsr
— South African Government (@GovernmentZA) October 15, 2020
"The Special #COVID19SA Grant will be extended by a further 3 months. This will maintain a temporary expansion of social protection and allow the labour market sufficient time to recover."- President Ramaphosa #EconomicRecoveryPlan #BuildingANewEconomy pic.twitter.com/0jKQGiRglQ
— South African Government (@GovernmentZA) October 15, 2020
