No recession but we need to get the politics right, Pravin Gordhan warns
THE strong GDP figures for the second quarter indicate a relatively robust rebound, which means SA is unlikely to suffer a recession this year, Finance Minister Pravin Gordhan said in the National Assembly on Wednesday."For the year as a whole, a recession is not our baseline forecast; however, there are risks both outside and within the country that we need to recognise," Gordhan told MPs during questions to the economic cluster of ministers.On Tuesday, Statistics SA reported that the economy grew a seasonally adjusted and annualised 3.3% quarter on quarter, in the second quarter of the year.However, policy reforms to reduce the cost of doing business and a stable business environment were vital to avoid economic contraction in the future, and to support the confidence of investors and consumers, said Gordhan in reply to a question by ANC MP Sfiso Buthelezi.READ THIS: Reserve Bank will lift 2016’s economic growth estimateThe minister stressed that economic growth required investor ...
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