Infrastructure investment key factor for economic growth: Godongwana - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.

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Infrastructure Nouvelles

Investment

South Africa’s infrastructure spend is estimated at R940 billion in both public and private sector.

Godongwana announced measures to accelerate the implementations of structural reforms though operation Vulindlela to forge conditions to entice public-private partnerships in major infrastructure projects.According to Godongwana, this will strengthen the economy to be more productive and internationally competitive, accelerate economic growth and foster job creation.

The budget for infrastructure is being reconfigured into a consolidated gateway for major infrastructure projects that demand fiscal funding to develop. The budget policy forecast lowered economic growth at 1.1 percent this year from 1.3 previously. It asserts strong measures against wasteful expenditure while prompting fiscal sustainability and allowing government sectors to call for alterations to their budgets.

 

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