The plan also re-prioritizes government spending towards activities that have the greatest impact on economic growth, domestic demand and job creation, with a particular emphasis on township and rural economies, women and youth.
"Our government has limited fiscal space to increase spending or borrowing, it is imperative that we make sure that the resources that we do have are used to the greatest effect," the president said.
Re-prioritized funding will be directed towards investments in agriculture and economic activity in townships and rural areas, he said.
The government will make interventions to ensure that black commercial farmers increase their entry into food value chains through access to infrastructure like abattoirs and feedlots, Ramaphosa said.
As part of the plan, the government will set up a South Africa Infrastructure Fund, which will fundamentally transform its approach to the rollout, building and implementation of infrastructure projects.
The Fund will reduce the current fragmentation of infrastructure spend and ensure more efficient and effective use of resources, according to Ramaphosa.
The private sector will be invited to enter into meaningful partnerships with government in this fund, he said.
The contribution from the fiscus towards the Infrastructure Fund over the medium-term expenditure framework period would be in excess of 400 billion rand (about 27 billion U.S. dollars).
【国际英语资讯:S. African president unveils economic stimulus plan】相关文章:
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