Fin24

Nedbank slams state on infrastructure

2012-08-02 08:54

Johannesburg - A Nedbank economist has criticised government for its slow infrastructure plan "which does not help the economy one bit", Business Day reported on Thursday.

Nedbank economist Nicky Weimar said government-planned investment of R844bn for infrastructure in the coming years could boost markets but there was concern over its ability to spend it efficiently.

"Government has a five-year priority list and a 20-year (project) pipeline, which does not help the economy one bit," Weimar reportedly said.

The economist argued this made the private sector all the more important.

*Follow Fin24 on Twitter, Facebook and Google+.