Transcription of Ch2 edit 2-5 - National Treasury
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Ch2 edit 2-5 - National Treasury
92 Economic outlook In brief South Africa s projected GDP growth for 2017, forecast at per cent at the time of the 2017 Budget, has been revised down to per cent. Over the medium term, GDP growth is expected to increase slowly, reaching per cent in 2020. Despite substantial risks, the global economic outlook is improving, with growth of per cent forecast in 2018. Higher global growth can benefit South Africa s medium- to long-term growth prospects if the country can boost investment and export competitiveness. Concerns about policy and political uncertainty, along with weak domestic demand, weigh heavily on business and consumer confidence, deterring investment and job creation.
9 2 Economic outlook In brief • South Africa’s projected GDP growth for 2017, forecast at 1.3 per cent at the time of the 2017 Budget, has been revised down to 0.7 per cent.
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