Too early to celebrate GDP growth spurt - Gigaba
5 September 2017
Johannesburg – An improvement in GDP growth is encouraging, but it is not yet time to celebrate, said Finance Minister Malusi Gigaba.
Reacting to the latest GDP numbers which showed the economy grew 2.5% in the second quarter of the year, Gigaba said “we need to remain honest about the major challenges that still face the local economy".
"Poverty, unemployment and inequality, which are being underpinned by persistent low growth, remain the challenges.”
The StatsSA announcement earlier that South Africa has exited a technical recession "is too early to suggest this is a longer term trend reversal", Gigaba said in a statement released by National Treasury.