Johann Krog, MPP
It’s official. South Africa’s economic growth prospects are dismal with the country ranked third last in Africa – ahead of only Swaziland and Equatorial Guinea.
This is according to the African Economic Outlook 2013 report, released yesterday by the African Development Bank. The report predicts 2.8% GDP growth for South Africa this year, yet our own Reserve Bank revised its forecast to 2% thereby downgrading our economic performance amongst our African peers even further. The report also shows how South Africa is falling way behind on the continent’s average expected growth rate of 4.7%.
Lower growth means reduced job opportunities. It means increased poverty and unemployment. The creation of 5 million jobs – as promised by President Zuma in 2011 – is an increasingly distant dream. The reality is that, since the President took office in 2009, there are 1.45 million more South Africans who are without jobs.
The President owes the many millions of unemployed South Africans an explanation