Cabinet has given the go-ahead to the urgent implementation of a 'stimulus package' to help South Africa's economy to recover.
A stimulus package is a package of economic measures put together by a government to stimulate a struggling economy.
It's expected that President Cyril Ramaphosa will outline the details of this stimulus package on Friday, ahead of a job summit.
The summit is aimed at mobilising business, labour and government to create jobs.
The package was adopted by Cabinet to spark economic activity and secure confidence in sectors affected by regulatory uncertainty, reports EWN's Jean-Jacques Cornish.
The package will include a defined set of economic reforms in key sectors including mining, telecommunications, tourism and transport, Cornish explains.
Earlier this month, the country entered into a technical recession after two consecutive quarters of negative growth.
There's very little in the actual post-Cabinet statement.— Jean-Jacques Cornish, EWN's Africa Correspondent
Ramaphosa said we've had this regulatory uncertainty that people haven't realised which way we are going.— Jean-Jacques Cornish, EWN's Africa Correspondent
Listen to the EWN update:
This article first appeared on CapeTalk : Ramaphosa to reveal details of stimulus plan to give SA's economy urgent 'CPR'