South Africa is planning projects worth $20.5 billion in sectors such as transport, energy, and water as it looks to drive the economic recovery from the coronavirus crisis. The infrastructure projects would soon be approved by President Cyril Ramaphosa’s cabinet after talks with the private sector and multilateral development banks.
Africa’s most industrialized economy was already in recession before the COVID-19 pandemic struck, with the central bank now predicting a 7% gross domestic product contraction this year and some economists forecasting a double-digit budget deficit.
