President Cyril Ramaphosa Photograph: Phando Jikelo/African News Agency (ANA)
President Cyril Ramaphosa Photograph: Phando Jikelo/African News Agency (ANA)

This is how Ramaphosa plans to revive the economy

By Siyabonga Mkhwanazi Time of article published Oct 21, 2020

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President Cyril Ramaphosa has promised to fix the economy, create jobs and upgrade the infrastructure in efforts to resuscitate an ailing economy.

Ramaphosa, who was appearing in Parliament on Wednesday during the debate on his economic recovery plan, said job creation remained at the centre of his plans.

He said industries would not be revived if there was no partnership between the private and public sector.

He said SMMEs create 60% of jobs in the country and the government would also have to play a part.

Ramaphosa said they will invest R100 billion in infrastructure over the next few years and create thousands of jobs.

He said Covid-19 has led to a trail of destruction across the economic sector.

But if the government wants to go back to pre-Covid conditions when the economy, while limping, was showing signs of recovery it would have to implement necessary reforms.

However, opposition parties said the economy was already ailing at the time due to poor policies of the ANC.

EFF deputy leader Floyd Shivambu and DA leader John Steenhuisen said there is no economy that will recover given government's poor response to the pandemic.

The ACDP also slammed government for Covid-19 corruption that saw some of the people implicated arrested.

The Hawks told Parliament this week that 19 people have been arrested for Covid-19 related corruption.

Ramaphosa defended the decision of his government to introduce the plan saying it would ignite growth in the economy and told opposition parties to hold his government accountable in Parliament over its implementation.

"I call on all South Africans to support it and be part of its implementation. I call on leaders across society to lend your wisdom, your ideas and your encouragement to the national economic recovery council, which will be driving the implementation of the plan," said Ramaphosa.

He said the economy needs to get back on its feet after a slump necessitated by Covid-19.

The economy has shed 2.2 million jobs and contracted by 16.4% during the second quarter.

It is predicted that more jobs were on the lines as businesses shut down and not able to recover from pre-Covid-19 conditions.

Ramaphosa said they need to get the economy going again.

Political Bureau

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