M a r k e t N e w s
Zuma Upbeat On Economy, Electricity Supply
Posted on : Tuesday, 18th August 2015
Despite slow growth globally, local economic growth is expected to increase to at least 3% over the next three years, President Jacob Zuma said on Tuesday. "[This is] because we expect the electricity constraints to ease," he told reporters at the Union Buildings in Pretoria.
It was estimated that the electricity shortage was costing the economy one percentage point in economic growth.
"South Africa continues to be confronted by the challenge of electricity supply. Since the inception of the five point plan in December 2014, substantial progress has been made in resolving the energy crisis," said Zuma.
"The operations and maintenance practices at Eskom continue to improve to ensure the power plans are appropriately maintained." Extra mega watts would be added to the electricity grid, the president said. Energy efficiency programmes resulted in saving energy costs and various renewable energy projects would in future add much needed extra mega watts to the grid.
"The exploration of various other options for electricity generation is underway," said Zuma. He said the nuclear build programme was at an advanced stage. South Africa's economy grew by 1.5% in 2014, down from 2.2% in 2013, according to preliminary estimates of real gross domestic product (GDP) released by Stats SA.
Source : allafrica.com
