New infrastructure must be the ‘flywheel’ to rebuild SA economy

A POST-LOCKDOWN future would require the building of high-quality bridges, roads, railways, ports and other infrastructure, Finance Minister Tito Mboweni said in his Supplementary Budget yesterday.

Borrowing a metaphor from President Cyril Ramaphosa, Mboweni said infrastructure would be the “flywheel” to drive economic growth through the tough economic conditions that had been worsened by the Covid-19 pandemic.

Ramaphosa this week hosted a successful Sustainable Infrastructure Development Symposium, drawing in sector specialists, technical and financial-structuring experts and policy departments, who had considered 177 infrastructure projects across the public and private sectors.

“In light of these and other important initiatives, the government has already committed R100 billion over 10 years towards the Infrastructure Fund.

“Together with the Development Bank of Southern Africa, we have identified projects that will be funded through the Budget Facility for Infrastructure,” Mboweni said in his Supplementary Budget Speech.

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