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Zuma promises half a million jobs Zuma promises half a million jobs
(30 minutes later)
New South African President Jacob Zuma has promised to create half a million jobs this year in his first state of the nation address.New South African President Jacob Zuma has promised to create half a million jobs this year in his first state of the nation address.
He said fighting poverty was his priority, a week after South Africa officially announced it was facing its worst recession in 17 years.He said fighting poverty was his priority, a week after South Africa officially announced it was facing its worst recession in 17 years.
"We must act now to minimise the impact of this downturn on those most vulnerable," he said in Cape Town."We must act now to minimise the impact of this downturn on those most vulnerable," he said in Cape Town.
But he also told parliament the government had to spend wisely.But he also told parliament the government had to spend wisely.
Mr Zuma's trade union allies are demanding more spending and deeper interest rate cuts, but the president is also wary of scaring off investors, say analysts.Mr Zuma's trade union allies are demanding more spending and deeper interest rate cuts, but the president is also wary of scaring off investors, say analysts.
We will have to act prudently - no wastage, no rollovers of funds - every cent must be spent wisely and fruitfully President Jacob Zuma Jacob Zuma's challenges
"Between now and December 2009, we plan to create about 500,000 job opportunities," he told MPs."Between now and December 2009, we plan to create about 500,000 job opportunities," he told MPs.
"Since the implementation of our programme will take place in the face of the economic downturn, we will have to act prudently - no wastage, no rollovers of funds - every cent must be spent wisely and fruitfully," he added. He said a 787bn rand ($98bn; £60bn) spending programme announced in this year's budget - and including funds for schools, transport, housing and sanitation - must be properly planned.
"In the face of the economic downturn, we will have to act prudently - no wastage, no rollovers of funds - every cent must be spent wisely and fruitfully," he said.
Analysts say Mr Zuma needs to ensure he does not alienate investors ahead of the football World Cup being hosted by South Africa in 2010.
Anti-apartheid icon Nelson Mandela is among those attending the speech at parliament.Anti-apartheid icon Nelson Mandela is among those attending the speech at parliament.