SA’s economic growth to be higher than predicted: Nene

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Finance Minister Nhlanhla Nene has told parliament that it appears that economic growth will be higher than previously predicted.

He was delivering his budget vote in parliament.

During the tabling of the National budget in February the GDP was projected to be 1.5% in 2018.

However, Nene says indications are that these figures will improve due to improved business and consumer confidence as well as favourable economic climate.

“For the first time in a very long time it appears economic growth will be higher than projected at the time of budget review that is thanks to the improved business and consumer confidence and a favourable economic backdrop this favourable momentum is an opportunity for us to build upon but should not be loud into a false sense of security we must continue to rebuild our resilience to ensure that we can respond to shocks that may arrive.”


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