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The South African government is committed to fostering sustainable and inclusive economic growth by stabilizing debt, investing in infrastructure, and supporting vulnerable households.
“Our strategy to accelerate growth, create jobs, and reduce poverty is based on a stable macroeconomic framework, structural reforms, and infrastructure investment,” said National Treasury Director-General Dr. Duncan Pieterse on Wednesday.
Speaking at the Bureau for Economic Research (BER) conference in Johannesburg, Pieterse highlighted the importance of boosting productivity and competitiveness. He emphasized that reforms in key sectors like energy, logistics, and telecommunications are critical for driving growth and unlocking investment.
Phase 1 of Operation Vulindlela, launched in October 2020, has been successful, with 94% of reforms completed or progressing well, generating an investment potential of R500 billion. The focus on energy reforms, particularly in raising the embedded generation licensing threshold, has catalyzed significant developments, crucial for ending load shedding and securing energy stability.
As the government moves into Phase II of Operation Vulindlela, it aims to maintain momentum and explore new growth areas, with continued emphasis on infrastructure investment. Private sector involvement is seen as essential in fast-tracking infrastructure provision and improving delivery outcomes.
Investment in infrastructure, particularly in energy and transport, remains a priority, with planned budgets expected to increase by 4.9% over the medium term. Government initiatives include reforms to Public-Private Partnerships (PPPs) and capital budgeting to enhance private sector co-investment in public infrastructure.
