Research shows that Mpumalanga will record a negative growth rate of between 5% and 7% in the year 2020.
Finance MEC Pat Ngomane has revealed that a number of 100 000 jobs will be lost in the Mpumalanga province as a result of the Covid-19 pandemic, the Witbank News has reported.
Ngomane said as government they will try and make sure that this is averted, when they partner with the private sector and find solutions to the provincial economic crisis.
An amount of R1.3 billion will be used by the Mpumalanga government to fund programmes such as governance, economic planning, development, trade and tourism.
Ngomane said they expect the unemployment rate will increase to 40% and the poverty rate to more than 50% this year.
He recently delivered his department’s policy and budget speech for the 2020/2021 financial year and revealed that Mpumalanga will record a negative growth rate of between 5% and 7% this year.
He said R1.3 billion will be used to help curb the impact of the Covid-19 pandemic in the province.
He added they believe they will be able to fight the economic impact of the pandemic.
“As a department, we strongly believe in partnering with the private sector, in order to revive our ailing economy. We cannot do it on our own,” he said.
(edited by ZK)
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