GDP [2017-Q2] provides little hope to the 9.3 million people who do not have jobs in SA

5 September 2017

The fact that Gross Domestic Product (GDP), in the second quarter of this year, expanded quarter-on-quarter, by 2.5%, lifting the economy out of recession, provides little hope to the 9.3 million people who do not have jobs, or have given up looking for jobs, in South Africa.

The reality is the economy, which is set to grow at just 0.5% this year, is growing too slowly to increase the level of per capita income for the 30.4 million people living below the poverty line; or to increase the level of employment for the 9.3 million people who do not have jobs, or have given up looking for jobs, in South Africa.

The fact is that “radical economic transformation” is killing the economy and that is why we need a fundamental shift in economic policy to boost economic growth and create jobs in South Africa.

Issued by David Maynier, DA Shadow Minister of Finance, 5 September 2017