In a bid to boost economic growth in South Africa, National Treasury says that it will be increasing infrastructure spend by 30%.
In his state of the nation addresses, President Cyril Ramaphosa stressed that infrastructure projects are critical in creating jobs, increasing investment and boosting economic growth, both of which have stagnated or declined over the last ten years.
National Treasury says it will be working closely with the various government institutions to overcome under-spending.The partnership will allow departments to establish a viable project pipeline and identify the requisite skills and support in project preparation and planning.
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