Cyril Ramaphosa on recovery package, a resilient economy & infrastructure

24 June 2020 - 11:15 By Cebelihle Bhengu
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President Cyril Ramaphosa said infrastructure development would be an important driver of economic recovery in the wake of Covid-19.
President Cyril Ramaphosa said infrastructure development would be an important driver of economic recovery in the wake of Covid-19.
Image: GCIS

President Cyril Ramaphosa on Tuesday hosted a round table discussion at the inaugural sustainable infrastructure development symposium of SA (SIDSSA).

The discussion gathered key players in infrastructure development and sought to find ways to, among other things, accelerate an infrastructure-led economic recovery plan.

Among the panellists were public works minister Patricia de Lille, head of investment and infrastructure, Dr Kgosientso Ramokgopa, and Sandile Zungu, president of the Black Business Council.

Here are five quotes from the president:

SA remains determined 

 “SA's financial system has remained relatively resilient despite the ongoing crisis. Yet, the severe damage caused by this pandemic and the damage it continues to cause has not diminished our determination to drive an ambitious and sustainable infrastructure development programme.”

Infrastructure urgency

“The coronavirus pandemic has made the infrastructure investment even more compelling, even more important and in the case of our country, even more urgent. That is why we have placed infrastructure at the heart of the stimulus our country needs to achieve sustainable recovery.”

Impact of Covid-19

“Investors are revisiting their decisions to invest in infrastructure projects that were deemed bankable before the pandemic. The costs of some inputs has increased while some are temporarily unavailable due to disruptions in national, regional and global supply chains. Lower revenues and non-payments have resulted in layoffs, financial losses and cash shortages.”

Recovery package

“The minister of finance has put forward a package of reforms that are needed to address macroeconomic imbalances and boost long-run growth as the crisis eases to lower borrowing costs and provide additional space for infrastructure investment to occur. The recovery package is intended to improve the speed at which SA can emerge from this crisis and improve the capacity of the economy to deliver sustainable inclusive growth.”

Infrastructure investment benefits

“Infrastructure investment provides both short and long-term economic benefits. In the short term, it creates jobs which are much needed but it also provides economic activity as roads, schools, hospitals and bridges are built. It gets construction companies back to work, inducing them to hire staff and expand capacity.”


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