Stimulus package introduced to improve economy

27 Feb 2019

flag coinsTransport Minister Blade Nzimande announced a R3.5 billion stimulus and recovery plan including measures aimed at favouring areas of economic activity that will mainly impact the youth, women and small businesses, the South African Government News Agency reports.

"The stimulus and recovery plan consist of a range of measures, both financial and non-financial, that will be implemented immediately to firstly ignite economic activity, secondly restore investor confidence, thirdly prevent further job losses and create new jobs, and fourthly to address some urgent challenges that affect the conditions faced by vulnerable groups among our people," Nzimande said.

He went on to say that the R3.5 billion budget for the stimulus package will lead to R13.1 billion investment in critical and strategic road infrastructure.

While addressing a media briefing on the South African National Roads Agency Limited (Sanral) announcement regarding major infrastructure projects, the Minister spoke of projects that are prepared to transition from the design phase to being constructed.

"Other measures we are immediately expected to implement as the Department of Transport include expanding procurement from small business and cooperatives, with a particular emphasis on township and rural economies, women and youth," the Minister added.