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Budget 2023: Progress report on SA’s economic recovery plan
Treasury reports that in the last year:
- Government established the National Energy Crisis Committee (NECOM) to coordinate a response to the electricity crisis, bring an end to power cuts and accelerate new energy generation. The licensing requirement for embedded generation projects has been lifted and the pipeline has grown to over 100 projects with more than 9 000MW of capacity (see below)
Red Tape –
• To create an enabling environment, the work visa system is being updated. A remote worker visa and a special dispensation for high-growth start-ups will be introduced. Amendments are being finalised to the Businesses Act (1991) to reduce regulatory constraints for small businesses.
Industrial Growth –
• Eight masterplans are being implemented. The agriculture and agro-processing masterplan was signed in May 2022 and aims to grow output by R32bn in the agriculture, forestry and fishing sector by 2030. The cultural and creative industries masterplan was approved by Cabinet in August 2022.
Job creation –
• The presidential employment initiative has created over 1 million short-term jobs over the past two years. The next cohort of 255 000 young people will take up posts as school assistants in over 22 000 schools from 1 February 2023
- Rollout of critical infrastructure is under way in water and sanitation, energy and transport. Projects worth R134.2bn are in procurement, R232.3bn are in construction and R3.9bn have been completed.
- Budget 2023: The Executive Summary
- Budget 2023: Greylisting – An update on this week’s big FATF decision
- Commodity Boom delivers R300bn windfall for SA taxpayers
Cyril Ramaphosa: The Audio Biography
Listen to the story of Cyril Ramaphosa's rise to presidential power, narrated by our very own Alec Hogg.