Ministers maintain positive outlook on SA economy
Finance Minister Pravin Gordhan says SA’s GDP growth in the second quarter indicates a strong rebound.
CAPE TOWN - Economic cluster ministers remain positive about South Africa's economic outlook.
Finance Minister Pravin Gordhan answered questions in the National Assembly yesterday, where issues around the health of the economy took centre stage.
Gordhan says South Africa's GDP growth in the second quarter indicates a relatively strong rebound.
"South Africa posted 3.3 percent quarter-to-quarter growth in quarter two. For the year as a whole, recession is not our baseline forecast."
Gordhan says "getting politics right" is crucial for this trajectory to continue.
"In order to show that we understand the length between a political environment and a political environment that generates the right kind of confidence in ourselves and the business sector in South Africa."
He further adds that government is working hard to avert a credit ratings downgrade later this year.