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Medium Term Budget Policy Statement - Coega commentary - published 1 Nov 2019


Minister of Finance, Honourable Tito Mboweni, highlights the strides taken in the year towards intensifying economic growth.



Medium Term Budget Policy Statement – Coega commentary on the Minister’s Medium Term Budget Statement


Port Elizabeth, 1 November 2019 - The Finance Minister, Honourable Tito Mboweni, delivered his Medium Term Budget Policy Statement outlining approaches to safeguard the government purse and stimulate economic growth. Minister Mboweni outlined the measures to grow the South African economy to “improve the quality of life of all citizens and free the potential of each person.” He further outlined the need for economic growth from its weakest 0.5% to at least 1.7% in the year 2022.

The CDC commends the progress made by government in upgrading a number of Industrial Parks and approved the demarcation of more special economic zones under the leadership of President Ramaphosa, in line with the structural reform agenda as contained in the National Development Plan.

The Minister emphasised that “Public-sector infrastructure projects are plagued by poor planning and implementation.” Therefore, Coega, as one of the leading Infrastructure Implementing Agent (IA) for government in South Africa welcomes the Minister’s comment on the prioritization of infrastructure projects as critical component to activate infrastructure investments. We will continue to work closely with government departments to fast track the implementation of the identified infrastructure projects, within budget and timeframes: “A pipeline of possible projects amounting to more than R500 billion have been identified. Government has set aside R100 billion over the coming decade to co-finance programmes and projects, with R10 billion in the baseline,” said Mboweni.

The CDC supports the government’s commitment in “Providing more equitable health care.” This is at the forefront of the CDC’s focus as a socio-economic development agency. With expertise in developing the 9003ha Coega SEZ over the past 20 years, the CDC has been the leading pioneer in health care infrastructure development on behalf of government departments in SA. It has the experience, capacity, technical expertise and cutting-edge project management solutions in mega and complex infrastructure projects.

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