Projects in Progress 2021 (First Edition)
It's long past due
While a successful Covid-19 vaccine roll-out is considered as the most important driver of the recovery from the pandemic, infrastructure investment remains as urgent as ever and is increasingly viewed as key to creating forward economic momentum.
Governments worldwide are preparing to invest trillions of dollars in new economic and social infrastructure to address backlogs and provide the basis for future economic resiliency, with some even seeing it as an opportunity to ignite this century’s own ‘roaring 20s’.
Special priority is being given to so-called green infrastructure to help countries mitigate and adapt to climate change, as well as digital infrastructure, which is seen as a key platform for generating and sustaining higher levels of future-proofed growth.
For South Africa, the social and economic infrastructure deficits are so large that it is not going to be possible for government to deliver these on its own. Fiscal stresses are not the only constraint, with all three spheres of government facing serious capacity deficiencies.
It is time for South Africa to adopt a stance identical to the one articulated by US President Joe Biden in March 2021, when he unveiled his proposed $2-trillion American Jobs Plan: “We can’t delay. We can’t delay another minute. It’s long past due.”
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