KZN shows signs of economic recovery amid national unemployment crisis

Ravi Pillay.

DESPITE a national unemployment rate of 32,7%, KwaZulu-Natal's leaders express cautious optimism over recent economic improvements and the importance of effective local governance ahead of municipal elections.

Former KwaZulu-Natal finance MEC Ravi Pillay said unemployment remained South Africa’s greatest economic threat, despite some positive developments in infrastructure and electricity supply.

“The unemployment rate remains our single biggest challenge and risk. While we welcome the very modest 1,6 % increase in the KZN employment figures, the overall picture remains dire. Unfortunately global dynamics, in particular the US/Israel/Iran conflict, severely impact some commendable progress in relation to electricity supply stability and significant improvement in our ports and rail infrastructure and operations,” Pillay said.

“We must persevere. We need to better understand and build confidence in KZN. Our competitive edges are enormous. The unemployment rate remains our single biggest challenge and risk.”