Cape Town
South Africa’s new finance minister on Thursday forecast the economy will this year rebound with 5.1 percent growth, after a record pandemic contraction.
Delivering his maiden mid-term budget statement Thursday, minister Enoch Godongwana said the economy had recovered faster than expected during the first half of this year.
“We now expect the South African economy to grow by 5.1 percent in 2021, from a 6.4 percent contraction in 2020,” Godongwana told parliament.
A strict lockdown imposed in March last year brought most economic activity to a standstill in continent’s most industrialised country.—APP
