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.
Ramaphosa announced that South Africa would embark on a massive public works and job-creation drive in response to the coronavirus pandemic.
In the video below, President Cyril Ramaphosa presents SA’s Economic Recovery Plan:
The President said his plan could unlock more than one-trillion-rand in investment over the next four years and create more than 800-thousand jobs.
He also announced a three-month extension of the special R350 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.”
In the video below, Godongwana gives ANC’s reaction to the Economic Recovery Plan: