• The mp3 revolution

    Ian Mann takes a look at the war between digital music and the compact disc.

  • Don't take us for fools

    It's time for businesses to stop thinking consumers are gullible, says Mandi Smallhorne.

  • Losing the plot

    Parastatal leaders have lost focus of what they're supposed to do, says Nonkululeko Gobodo.

All data is delayed
See More

Zuma: Economy needs to grow faster

Feb 14 2013 19:42

President Jacob Zuma said in his State of the Nation address that the economy needs to grow three-fold in order to create jobs.

Related Articles

NDP to top Zuma agenda

Zuma must focus on 'big five' - Cosatu

Union wants new vision for labour

Cape Town - South Africa's economy needs to grow threefold to create the targeted 11 million jobs by 2030 and interventions outlined in the National Development Plan can put the economy on a better footing, President Jacob Zuma said in his State of the Nation address on Thursday.

He said the NDP is a roadmap to a South Africa where all will have water, electricity, sanitation, jobs, housing, public transport, adequate nutrition, education, social protection, quality healthcare, recreation and a clean environment.

"The achievement of these goals has proven to be difficult in the recent past, due the global economic recession."

Referring to the crisis in the eurozone, Zuma said it affects the local economy as the erozone is South Africa's major trading partner, accounting for around 21% of exports.

On jobs Zuma said the country needed growth rates in excess of 5% to create more jobs. "Our GDP growth is expected to average at 2.5%, down from 3.1% in the previous year.

"We need growth rates in excess of 5% to create more jobs."

He said the government will engage business, labour and other social partners in pursuit of solutions. "No single force acting individually can achieve the objectives we have set for ourselves."


Follow Fin24 on Twitter, Facebook, Google+ and Pinterest.



Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
Comments have been closed for this article.

Company Snapshot

We're talking about:


Marketing is a big concern in SA's small business community, followed by a lack of confidence and partnering with the wrong people, according to a survey.

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...

Voting Booth

The 25 basis points interest rate increase is:

Previous results · Suggest a vote