THEBE MABANGA
THE South African Reconstruction and Recovery Plan, government economic recovery plan that was presented to Cabinet Lekgotla, contains a range of ambitious goals, some in place for close to a decade, but contains no new ideas.
The plan is set for debate at a special sitting of Parliament on Thursday this week.
The plan describes its objective as being twofold: the first “is to deal with immediate actions towards economic recovery amid COVID-19” and to “Rebuild and grow the economy ensuring sustainability, resilience and inclusion.”
The plan aims to use “infrastructure, localisation and re-industrialisation as levers to stimulate economic activity and to raise the standard of living in marginalised communities.”
The plan foresees economic contraction of 7% in 2020, which is optimistic by many estimates, and anticipates the loss of 3 million jobs.
The plan says it rests on “[building] a strong social compact that unlocks scarce resources,
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