The public and private sectors need to significantly increase capital investment to bolster SA’s economic growth and reduce unemployment and poverty, says Finance Minister Enoch Godongwana. Speaking at the Consulting Engineers South Africa Infrastructure Indaba on Thursday, he noted that capital investment by the public and private sectors amounted to just 13.7% of GDP in 2020. Read: SA faces R4.
Government recommits to infrastructure investment to support economy Godongwana said it is critical that public infrastructure is well maintained to ensure that infrastructure investment is focused on new investments rather than replacing infrastructure that should still have a useful life. He said the government has noted the underprovision of maintenance budgets by government institutions and is working on addressing this issue.