Local and international developments have an impact on economic growth: David Masondo - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.

locally and internationally have an impact on government plans to grow the economy and reduce unemployment.

Deputy Finance Minister David Masondo says government is addressing the country’s ailing infrastructure, unreliable and unstable energy supply in its efforts to grow the economy. The Russia and Ukraine conflict is also blamed for triggering the current wave of inflationary pressures. These pressures come as the local economy is still recovering from the aftermath of the Covid-19 pandemic, the July unrest and the KwaZulu-Natal floods.Masondo says South Africa’s economy saw these effects manifesting in many forms such as high levels of joblessness. The unemployment rate came in at 33.9% in the second quarter down from 34.5% in the first quarter.

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