South Africa’s President unveils $60bn plan to boost Economy

South Africa will embark on a major public works and job-creation drive in response to the coronavirus crisis, President Cyril R
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South Africa will embark on a major public works and job-creation drive in response to the coronavirus crisis, President Cyril Ramaphosa said on Thursday, unveiling a plan to return Africa’s most industrialized economy to growth.

Under pressure after data showed the largest-ever gross domestic product (GDP) contraction in the second quarter, Ramaphosa said his plan could unlock more than one trillion rand ($60bn) in investment over the next four years and create more than 800,000 jobs.

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