• President Cyril Ramaphosa says the economy is growing with falling unemployment, poverty and inequality, and improved confidence in South Africa.

• Ramaphosa says over R1-trillion will be spent on infrastructure and Cabinet will meet to plan youth job creation in 2026.

President Cyril Ramaphosa says South Africa is moving forward despite high levels of youth unemployment.

He says the economy is growing steadily. Recent signs show progress is being made. These include falling unemployment, poverty and inequality.

Ramaphosa says there is more confidence in the economy. The Johannesburg Stock Exchange is performing well. Inflation is at a 20-year low.

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South Africa has also been removed from the Financial Action Task Force grey list. Credit rating agencies have upgraded the country's status.

Ramaphosa says none of this is a reason to slow down.

"To grow the economy in a meaningful and lasting way, we must increase investment," he said. "The difference between a temporary boost and long-term growth lies in investment."

Last week, the Presidential Economic Advisory Council said the way forward is to spend more on public infrastructure. The government must also reduce the cost of doing business.

It welcomed progress in key areas like electricity and rail. The council said this has already helped improve the economy.

According to the council, ending load shedding and opening the electricity sector to competition are major achievements. But it warned that more must be done to keep the momentum going.

Ramaphosa said over R1-trillion will be spent on infrastructure in the next three years.

Several reforms have made it easier for government and private companies to work together on big projects.

He said the Cabinet will soon meet to plan how to grow investment and create jobs in 2026. The focus will be especially on the youth.