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