SA economic growth beats expectations

07 March 2018 | Ekonomie
Johannesburg - South Africa's economy grew by a better than expected 1.3% in 2017 driven by agriculture and finance, Stats SA said yesterday, beating forecast growth of 1%.

The improved economic performance "was partly driven by an agriculture industry bouncing back from one of the worst droughts in recent history", it said.

"After a wobbly start to 2017, which saw economic activity contract in the first quarter, the economy saw sustained growth for the remainder of the year. The fourth quarter experienced the highest growth rate of 2017, with the economy expanding by 3.1% quarter-on-quarter," Stats SA said in a statement.

The trade sector also contributed to yesterday's good news, Stats SA added, and was the second largest contributor to fourth-quarter growth.

South Africa's economy has experienced sluggish growth in recent years with the jobless rate rising to 27.7%.

In April, the country lost its investment grade credit rating when the world's two major agencies, Fitch and Standard & Poor's, downgraded its sovereign debt to junk status.

Their move was partly blamed on former president Jacob Zuma's sacking of respected finance minister Pravin Gordhan in March.

Since President Cyril Ramaphosa succeeded Zuma last month, the stock market has rebounded and the local rand currency has reached its strongest level against the US dollar in three years on hopes he will reform the economy. – Nampa/AFP

Soortgelyk

 

Plaasaankope ‘is niemand se besigheid’

48 minute gelede | Plaaslik

Denver Kisting – Die minister van verdediging, mnr. Penda ya Ndakolo, hou vol die ministerie het nié die plaas Otjisemba gekoop nie.Behalwe dat hulle nie...

Dwelmvonds ruk kus

48 minute gelede | Misdaad

Otis Finck op Walvisbaai – ’n Bekende gesin van Narraville op Walvisbaai word glo verbind met ’n reusedwelmvonds die afgelope naweek.Die polisie in die Erongostreek...

Dag van die Afrika-kind

48 minute gelede | Gebeure

Die Dag van die Afrika-kind word jaarliks op 16 Junie op die vasteland herdenk. Hier luister van die kleingoed van die Rene Kids Centre op...

LPM 'is 'n politieke party'

48 minute gelede | Politiek

Catherine Sasman - Leiers van die Landless People’s Movement (LPM) sê hoewel die organisasie nog by die Verkiesingskommissie van Namibië (ECN) geregistreer moet word,...

Weer vir 18 Junie 2018

48 minute gelede | Weer

BINNELAND: Koud aanvanklik in die binneland. Dit sal gedeeltelik bewolk en matig in die ||Kharasstreek wees met enkele buie in die verre Suidweste. Elders sal...

Weer vir 15 Junie 2018

48 minute gelede | Weer

BINNELAND: Koud aanvanklik in die binneland. Dit sal gedeeltelik bewolk en matig in die ||Kharasstreek wees met enkele buie in die verre Suidweste. Elders sal...

Gretzky kry doodstraf vir ’n donkie

48 minute gelede | Omgewing

Des Erasmus - Sewe woestynleeutroppe is leierloos nadat ‘n uitgeteerde mannetjie in die nagtelike ure van Saterdagoggend by De Rust in die Ugabvallei wes van...

Meatco sál weer BTW betaal

48 minute gelede | Landbou

Elvira Hattingh – Meatco se amptelike aankondiging dat dit weer 15% belasting op toegevoegde waarde (BTW) aan produsente sal betaal wat beeste by abattoirs lewer,...

NBC-werkers woedend oor geldsake

48 minute gelede | Arbeid

Augetto Graig - Werknemers van die NBC sal nie langer wanbestuur duld nie.Een van die grootste kwessies is die nasionale uitsaaikorporasie se versuim om derde...