Minister Ebrahim Patel outlines government’s plans to help recover SA economy

Trade and Industry Minister, Ebrahim Patel, has outlined government’s plans to help recover the economy and create job opportunities.

President Cyril Ramaphosa announced, in his State of the Nation Address this week, a number of economic reforms aimed at resuscitating the economy following the negative financial implications of the coronavirus pandemic.

Ramaphosa has put economic recovery and structural reforms, such as job creation and fixing State-Owned Enterprises, at the centre of the government’s priorities.

Patel explains the steps that would be taken to rebuild the economy. “The first is to rebuild the foundations of the productive sectors – things like poultry, sugar, clothing, textiles and automobile. The second is to reclaim the domestic market through a partnership with the business community to get more goods made in SA for our market. The third is to create new markets, new places where SA goods can be sold – the AfCFTA. The fourth is to bring in new players, small businesses, young entrepreneurs and so on. The final one is to try to identify some new opportunities as a result of the greening of the economy.”

But what is the government actually going to do to create jobs: 

Fighting corruption 

President Ramaphosa said government will this year focus on defeating COVID-19, accelerating economic recovery, implementing economic reforms and fighting corruption.

Will SA be able to fight corruption, strengthen a weakened state?

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Fight against COVID-19

Ramaphosa said there’s light at the end of the tunnel in the fight against COVID-19, which has infected nearly 1.5 million South Africans and killed at least more than 47 000.

“We have secured nine million doses of the Johnson & Johnson vaccine. Further consignments will arrive over the next four weeks. In addition, we have secured 12 million vaccines from the COVAX facility. This will be other vaccines that are available to SA, Pfizer has committed 20 million vaccine doses commencing with deliveries at the end of the first quarter.”

He said the implementation of economic reforms to create jobs and clamping down on corruption will also take priority, adding that the government will soon appoint members of the National Anti-Corruption Advisory Council that will oversee the establishment of an independent statutory anti-corruption body that will report to Parliament.

State of the Nation Address in numbers:

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