SA Needs 10% Growth to Create Jobs - DBSA

The DBSA says that South Africa's GDP needs to grow by at least 10 percent a year if it is to create half a million jobs each year for the next decade

The Development Bank of Southern Africa (DBSA) says that South Africa's gross domestic product (GDP) needs to grow by at least 10 percent a year if it is to create half a million jobs each year for the next decade.

Speaking at the launch of the bank's development report for 2011, 'Prospects for South Africa's Future', DBSA divisional executive for planning, Sinazo Sibisi, said that the GDP growth to date has been volatile and potentially unsustainable.

"Inefficient logistics systems and challenges in energy and water security have acted as constrains to growth, imports continue to outstrip exports, and new opportunities for a more balanced trade regime in emerging markets will not be easy to realise," explained Sibisi.

To read the article titled, "SA needs 10 percent growth for job creation, warns bank," click here.

Source: 
Business Day

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