Events and Exhibitions
Western Cape overtakes Gauteng for the first time in number of building plans passed .
simply looks at projects that have been previously promised by government in previous budgets . Had those promises
materialised our growth rate would be above 6 % and every aspect of the construction industry , including HVAC & R would be booming at the moment .
Jammine number-crunched some of those promises which had not materialised : 51 projects in housing , sanitation , roads , harbours , schools , water and energy promised in November 2021 ; in the Medium Term Budget Policy statement the president promised , “[ A ] n additional R595-billion of investment ”, consisting of 55 projects . In February 2022 , the President announced a R100-billion Infrastructure Investment Fund ; and then in April 2022 , the President announced quite proudly after the fourth Investment Summit , “[ W ] e have now secured R1.14- trillion of commitments to capital projects ”. In October 2020 . President Ramaphosa announced an economic recovery and reconstruction programme , part of which was R340-billion worth of infrastructure investment to be spared with no time period .
He stated that these numbers are so big , that if we were to actually see full implementation , it would be a game changer not only for the construction sector , but for the entire economy . Jammine noted : “ It would mean capital investment would start growing by 20 to 30 % a year , not the measly three or 4 % that the Budget anticipates . More to the point , construction has the highest job creation factor of any sector ( even compared to agriculture which is fast mechanising ) and it would stimulate massive job creation . The economy would grow by between five and 6 % a year .” RACA
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RACA Journal I April 2023 www . refrigerationandaircon . co . za