The National Treasury is expected to spend over R812 billion on public sector infrastructure over the next three years, says finance minister Enoch Gondongwana.
In consultation at an infrastructure indaba in Johannesburg on Thursday , the finance minister pledged to ramp up investment in the infrastructure industry with a keen focus on public-private partnerships.
“To grow the economy and reduce unemployment and poverty, capital investment by the public and private sectors, which amounted to 13.7% of GDP in 2020, needs to significantly increase,” said Gondongwana. Godongwana added that government is in the process of creating measures to improve the delivery of public infrastructure and attract private capital in the country but noted that the industry faces four significant challenges that must be overcome, namely:Government institutions are underspending on their budgets, the minister said. To overcome this, the finance minister said that a ‘project pipeline’ is needed that outlines the preparation and planning of big infrastructure projects.
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