Ramaphosa to announce plan to revive ailing economy

President Cyril Ramaphosa
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President Cyril Ramaphosa is set to announce his ambitious plan on Friday to help boost the ailing economy. He will address the media at the Union Buildings in Pretoria.

The stimulus package plan is aimed at stimulating various sectors of the economy with the intention to create more jobs.

Media reports say the plan could cost the country about R45 billion.

The economy is expected to grow by 1% in 2018.

Government says the plan will be funded through the re-allocations of existing budget.

Economist Jeff Schultz says government resources are already constrained.

“The devil is going to be in the detail. We are told that the stimulus package is going to be using existing fiscal resources, but I am skeptical on the ability of the National Treasury to be able to shift around much more on the expenditure side given that it has already made big shifts in the February budget. So my skepticism lies in ‘are we going try to do things better?’ I think that’s what the stimulus package is going to be directed at. ”

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