Head of the President’s Investment Infrastructure Office, Dr Kgosientso Ramokgopa, says all monies spent in the fight against the coronavirus must be accounted for in order to successfully ensure economic growth.
South Africa has slipped deeper into recession and its GDP contracted by an annualised 51% in the second quarter of 2020.
— Stats SA (@StatsSA) September 8, 2020
The lockdown implemented to stem the spread of the coronavirus has weighed heavily on the economy as many sectors were closed for business.
President Cyril Ramaphosa says the Presidential Employment Stimulus will commence within the next month to increase job opportunities through public and social employment to counteract job losses.
Ramokgopa says major initiatives are in the pipeline and any malfeasance will undermine the process of achieving economic growth:
R500-billion stimulus package
In April this year, President Cyril Ramaphosa announced a R500-billion economic package to help the county cope with the coronavirus.
The Infographic below highlights sectors where the money would be injected to: