The last five years has been a time of recovery and rebuilding.
From the outset, this administration has worked to address the immediate challenges facing South Africans and put in place the foundations for sustainable, inclusive growth and job creation into the future.
It has taken far-reaching actions to rebuild the economy, firstly in the wake of state capture and more than a decade of poor economic performance, secondly from a devastating global pandemic, and thirdly from a debilitating electricity crisis.
There has been significant progress on measures to grow the economy, create jobs, reduce poverty, tackle corruption and fight crime. Some of these measures have already had an impact on people’s lives, while the benefits of others will take a longer time to be felt.
We have come a long way in the last five years. We have built on the achievements of the last 25 years and we have taken decisive steps to deal with difficult challenges.
But our journey is not yet complete. There is still much work to be done to rebuild our economy, reduce poverty and ensure that all South Africans experience an ever- improving quality of life.
Successful investment drive
Over R1.5 trillion in new investment commitments was pledged through five South Africa Investment conferences. Of these commitments, over R500 billion has already flowed into the economy.
Master plans have been finalised in eight industries – clothing, poultry, sugar, automotive, furniture, steel, tourism and forestry – with projects worth R43 billion completed and projects worth R87 billion under construction.
Infrastructure for growth
The Infrastructure Fund has been established as a blended finance facility for infrastructure.
Infrastructure SA has been set up to coordinate a massive public infrastructure build.
The value of projects currently in construction is over R230 billion, including energy, water infrastructure and rural roads projects.
The government-guaranteed bounce-back loan scheme was introduced and the eligibility criteria expanded to provide additional funding to small businesses.
Commuter rail recovering
Operations were restored on 26 out of 40 commuter rail corridors following disruptions caused by the COVID-19 pandemic.
This report provides an overview of the progress that has been made over the last five years. More information is available on the State of the Nation website: stateofthenation.gov.za
Email
Facebook
Twitter
WhatsApp