Ramaphosa outlines economic recovery plan

Ramaphosa outlines economic recovery plan

President Cyril Ramaphosa has laid out the plan to get the country's economy back on track - following the devastation brought on by the coronavirus pandemic.

Ramaphosa economic recovery plan

Ramaphosa presented the reconstruction and recovery plan to Parliament on Thursday.

He's explained what the interventions aim to do.

"Through these measures, we aim to achieve sufficient, secure and reliable energy supply within two years. The interventions outlined in this plan will create and support over 800,000 work opportunities in the immediate term to respond to job losses, unlock more than R1 trillion in infrastructure investment over the next four years. 

"Reduce data costs for every South African and expand broadband access to low-income households; reverse the decline of the local manufacturing sector and promote reindustrialisation."

Ramaphosa says jobs are at the centre of the country's economic recovery plan. 

"We are determined to create more employment opportunities for those who were unemployed before the pandemic or who had given up looking for work.


This means unleashing the potential of our economy by, among others, implementing necessary reforms, removing regulatory barriers that increase costs and create inefficiencies in the economy."

He says it's important to place the economy on a path of inclusive growth.

Ramaphosa says there were intensive consultations over the last couple of months.

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