South African President Jacob Zuma on Thursday vowed to boost economic output, particularly in the country's critical mining sector, following the release of disappointing growth data, dpa reported. Gross domestic product rose by just 0.9 per cent in the first quarter of 2013, according to official statistics, with the manufacturing sector shrinking during the period. With unemployment currently at 25 per cent of the workforce, Zuma noted that in order to "put our economy on the right footing" the country must eventually target growth of at least 3.5 per cent annually. For 2013, the government is targeting a growth rate of 2.7 per cent. "The government will redouble its effort to support the economy to achieve our objective," said Zuma. The mining sector - which makes up 6 per cent of GDP, and 18 per cent if indirect and induced effects are also taken into account - has been hit by a wave of wildcat strikes and plummeting global prices for precious metals like gold and platinum. "Our country needs a stable and growing mining industry," Zuma said. "Since our economy is intertwined with the global economy, especially Europe, our mining industry has unavoidably been affected by the depressed global economic environment." The South African rand has been slipping against the dollar, setting new four-year lows this week as its edges against the psychological threshold of 10 rand for each greenback.
