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S.Africa's Ramaphosa unveils infrastructure, jobs plan after COVID-19 hit

Credit: REUTERS/POOL

South Africa will roll out a big infrastructure spending programme and large-scale employment stimulus to revive an economy that was ailing even before the coronavirus crisis, President Cyril Ramaphosa said on Thursday.

CAPE TOWN, Oct 15 (Reuters) - South Africa will roll out a big infrastructure spending programme and large-scale employment stimulus to revive an economy that was ailing even before the coronavirus crisis, President Cyril Ramaphosa said on Thursday.

Unveiling a COVID-19 economic recovery plan in parliament, Ramaphosa said the government would unlock more than 1 trillion rand ($60 billion) in infrastructure investment over the next four years and would create more than 800,000 jobs in the immediate term.

($1 = 16.6733 rand)

(Reporting by Wendell Roelf and Alexander Winning; Writing by Olivia Kumwenda-Mtambo; Editing by Edmund Blair)

((promit.mukherjee@thomsonreuters.com; +27 64833 4448;))

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