S.Africa says growth, jobs targets "implausible"

(Reuters) - South Africa's target of lifting economic growth to an average of 6 percent between 2010 and 2014 appears "implausible" due to the global economic downturn, the government said on Thursday.

It will also struggle to meet its aim of halving unemployment.

It added, however, that the government would not yet lower the targets due to the uncertainty surrounding the global recession.

An economic plan formed in 2006, known as the Accelerated and Shared Growth Initiative for South Africa, set out plans to boost growth and cut poverty in Africa's biggest economy.

But the latest annual report of the programme warns the global economic recession, which it says may continue for longer than previously expected, made its goals difficult.

"The result is that the original AsgiSA target of growing at an average rate of 6 percent between 2010 and 2014 now may appear implausible," the report said.

"In turn, the target of reducing poverty by half ... or less in 2010 may appear to be endangered, and possibly also the target of halving poverty between 2004 and 2014."

South Africa's economy expanded by an average 5 percent in the four years to 2007, but growth slowed to 3.1 percent last year, knocked by electricity shortages and slowing world growth.

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