Mkhize says KZN will overcome recession
PREMIER Zweli Mkhize is optimistic about the economic future of KwaZulu-Natal and says the province will weather the current global recession.
Delivering his first state of the province address in Pietermaritzburg yesterday, Mkhize said: "Contrary to the feelings of gloom and doom that global recession normally brings with it, this time there is hope for a better future.
"It is going to be a long and arduous journey to create a better future for our country and all future generations. It is a hard journey, but it is full of hope and optimism."
However, he said the manufacturing sector, the province's largest contributor in terms of contributing to GDP and employment, had been the biggest loser (117000 jobs) in the first quarter of the year.
Mkhize also said the province's huge over-expenditure would have to be serviced over the next three years, which would further impact on the limited resources available.