President Cyril Ramaphosa presents economic reconstruction and recovery plan aims to expedite, in a sustainable manner, the recovery of the economy that was affected by the COVID-19 pandemic.
WATCH LIVE: Ramaphosa presents SA's economic recovery plan.
"Together, we will build a new economy." The president concludes.
Ramaphosa hails South Africans for being united in fighting COVID-19.
"We have endured much, and have always emerged stronger and more united."
"It is clear that implementation is going to be the key in giving effect to this recovery and reconstruction plan." The president says.
The president has called on everyone to work hard to help the economy recover.
"We wish to assure all South African that there will be no political interference with the work of law enforcement agencies." Ramaphosa says.
The president is adamant that there will be no political interference with the police doing their work to fight corruption.
"We will be working with women-empowered companies to progressively reach our target of directing at least 40% of procurement spend to such enterprises."
Ramaphosa says through a focused support programme, they will support SMME participation in the manufacturing value chain.
"The social partners have also agreed to support a massive ‘buy local’ campaign for this festive season," Ramaphosa reiterates.
Ramaphosa urges the government and business to use locally-made materials.
"We will therefore be extending the Special COVID-19 Grant by a further 3 months." The president says.
"The speed and urgency with which we are expanding employment programmes demonstrates our commitment to support those who are without work." The president says.
The president has already earmarked R100 billion over the next three years to develop infrastructure.
Ramaphosa says the plan has four areas of focus
The president says hard hit sectors like Tourism will be prioritised.
Ramaphosa promises to lower data costs.
He says the government is determined to create jobs for those who have given up on looking for jobs.
"The creation of jobs is at the centre of the economic recovery plan." The president says.
The president lists all the things government has done to help alleviate the stress of COVID-19 on families, businesses and the unemployed.
"It's too soon to declare victory over this virus," Ramaphosa says.
The president says no country was spared from the COVID-19 pandemic.
The president outlines the plans for recovering the economy. He says the objectives are linked to the National Development Plan.
Ramaphosa begins by thanking everyone for being present in Parliament.
Speaker of the National Assembly Thandi Modise begins by introducing the president...
The plan was widely deliberated among government and social partners under the auspices of the National Economic Development and Labour Council (NEDLAC).
Earlier this month, the draft plan was tabled at the Cabinet Lekgotla where provinces and local government participated.
Ramaphosa said the plan aims to expedite, in a sustainable manner, the recovery of the economy that was affected by the COVID-19 pandemic.
President Cyril Ramaphosa will present the economic reconstruction and recovery plan.
Hello and welcome to EWN's live blog about President Cyril Ramaphosa's economic recovery plan for South Africa post COVID-19.