Pretoria – President Cyril Ramaphosa on Tuesday said South Africa’s investment in infrastructure has been declining, way before the coronavirus pandemic, and the country now needs to urgently up its investment in infrastructure if the struggling economy is to recover post the Covid-19 pandemic.
“That is why we have placed infrastructure at the centre of the stimulus our economy needs to achieve a sustainable recovery. Even before the pandemic, South Africa’s investment in infrastructure had been declining for several years, which, among other things, had caused great hardship for the construction and related industries.”
"Lenders and investors, in turn, are revisiting their decision to invest in infrastructure projects that were deemed bankable prior to the pandemic,” said the president. “This crisis provides even greater impetus for the implementation of the key reforms necessary to transform the economy to support inclusive growth.”