Rebased GDP no panacea as real growth remains in doldrums
SA’s economy is 11% bigger, rebased GDP figure shows
The SA economy is 11% bigger than previously thought, according to Stats SA, which on Wednesday announced a rebased figure for GDP, a regular exercise that should be done every five years.
However, growth rates and patterns before and after the revision are similar, showing little change in real growth of the economy, which has been stagnant. Both the revised and previous series show the severe impact of Covid-19 in 2020, with the economy shrinking 6.4%, though that was revised from a decline of 7%...