Economists say Finance Minister Tito Mboweni will face a huge challenge when he delivers his Medium-Term Budget Policy Statement on Wednesday.
Economist, Raymond Parsons, has welcomed with cautious optimism the growth of the country’s Gross Domestic Product (GDP) in the second quarter of 2019.
The Gross Domestic Product data that Statistics South Africa has released shows that mining, manufacturing finance and real estate had positive growth in the three months to the end of June 2019.
South Africa has avoided a technical recession after Statistics South Africa said the country economy grew by 3.1% in the second quarter.
The growth of the economy exceeded National Treasury’s expectation of 1,0% growth announced during the National Budget Speech in February, according to StatsSA.