SA economy to resume growth in 2010, jobs a challenge

source: Mmegi

South Africa’s economy is expected to grow by 2.3 percent in 2010 after contracting 1.8 percent last year, but unemployment remains a critical challenge after recession slashed about 900,000 jobs, the National Treasury said on Wednesday.

In its 2010 budget review, the Treasury said South Africa needed policy adjustments to drive faster and more inclusive growth, create more jobs, and reduce poverty.

President Jacob Zuma’s ANC government is under increasing pressure from its key labour union and communist allies to increase spending to boost growth, create jobs and improve the lives of millions mired in poverty nearly 16 years after the advent of democracy.

The unions say the poor have borne the brunt of South Africa’s its first recession in 17 years last year, which resulted from [continue reading]

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