100 000 jobs expected to be lost in Mpumalanga
One billion, 353 million, and 68 thousand rands funding was allocated to fund the six programmes tabled by the MEC during his speech for 2020/21 financial year.
The Covid-19 pandemic has brought not only sickness but also an increase in unemployment and poverty rates.
Member of the Executive Council (MEC) for finance, economic development and tourism, Mr Petrus Ngomane delivered the Vote 6: policy and budget for 2020/21 for Mpumalanga stating the provincial economic outlook, the Department of Economic Development and Tourism (DEDT) interventions and budget allocation.
The virtual presentation took place on Tuesday, June 23, when Mr Ngomane said that 100 000 jobs are expected to be lost this year.
According to a press release provided by the Department of Economic Development and Tourism (DEDT) media liaison office, the DEDT researched that revealed that Mpumalanga will record a negative growth rate of between 5% and 7% this year.
The MEC also highlighted that the unemployment rate is expected to increase to around 40% and the poverty rate to more than 50% this year.
He tabled funds to help curb the impact of the Covid-19 pandemic in the province.
One billion, 353 million, and 68 thousand rands funding was allocated to fund the six programmes tabled by the MEC during his speech for 2020/21 financial year.
The programmes include administration, Integrated Economic Development, Trade and Sector Development, Business Regulation and Governance, Economic Planning, and Tourism.
As the MEC was closing, he said: “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,” and was hopeful that the province will overcome the current unfortunate economic meltdown.
