Ramaphosa vows 800 000 job opportunities as part of recovery plan
President Cyril Ramaphosa says government has begun creating 800 000 job opportunities as part of its economic recovery plan.
Ramaphosa detailed the plan during a joint sitting of Parliament on Thursday, saying it will focus on four key priorities.
"To reindustrialise our economy, focusing on growing small businesses, to accelerate economic reforms to unlock investment and growth, to fight crime and corruption and to improve the capability of the state."
The Covid-19 pandemic has seen 2 million South Africans losing their while economy contracted by 16.4% between the first and second quarter of the year.
Ramaphosa vowed that the inventions would create 800 000 immediate work opportunities and unlock R1 trillion in infrastructure investment over the next four years.
He said they will also take advantage of the export market to accelerate economic growth.
"The rest of Africa currently imports R2.9 trillion worth of manufactured goods from outside the continent each year. If South Africa were to supply just 2% of those goods, it would add 1.2 percentage points to our annual GDP."
The payment of the special Covid-19 grant will also be extended for another 3 months.
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