SA GDP up by 1.1% in the first quarter
The South African Gross Domestic Product (GDP) grew by 1.1% in the first three months of 2021, Statistician-General Risenga Maluleke has revealed. This growth, he said, translated into an annualised growth rate of 4.6%. “This follows a revised 1.4% (annualised: 5.8%) rise in real gross domestic product (GDP) in... Read more
SA ranked for top global business services sector
South Africa has been ranked as the top global business services sector location for 2021, the Department of Trade, Industry and Competition (dtic) has announced. “In a boost to business confidence, South Africa has won an award as the top global location for business process services, in a sector... Read more
IMF is upbeat about SA economy
The International Monetary Fund’s (IMF) has revised upward growth outlook of South Africa from 2.8% to 3.1% for 2021. The upgrade affirmed the robustness of the country’s economy and positive economic interventions despite tough conditions. The projected 3.1% growth follows a period where economic activity decreased by 7.0% in... Read more
“We are strengthening our infrastructure planning, packaging, and implementation capacity, through Coega Development Corporation (CDC) as the project packager so as to improve the level of participation in the alternative funding instruments,” says Mlungisi Mvoko, MEC for Finance and Economic Development in the Eastern Cape. In delivering the Eastern... Read more
GDP shrinks by 7%
The South African economy contracted by 7% in 2020, Statistician-General, Risenga Maluleke, has revealed. Maluleke on Tuesday briefed media on the results of the Gross Domestic Product (GDP) for the fourth quarter of 2020. The decrease was despite the economy growing by 1.5% in the last three months of... Read more
Economic recovery plan bears fruit
President Cyril Ramaphosa has outlined progress made since the announcement of the Economic Reconstruction and Recovery Plan (ERRP). Delivering the 2021 State of the Nation Address (SONA) on Thursday night, the President said since the launch of the plan on 15 October 2020, the country’s infrastructure investment project pipeline... Read more
GDP contracts by 51% under lockdown
The South African economy contracted by a staggering 51% in Quarter 2 of 2020, as the country reeled from the consequences of the COVID-19 enforced lockdown, Statistician-General Risenga Maluleke has revealed. In a briefing on Tuesday, Maluleke described the development as a severe punch in the gut of the... Read more
SARS back to work but grim economic outlook for SA
Tax Consulting’s Jean du Toit says in a recent article that the Commissioner for SARS made a profound media statement, which gave a detailed account of projected revenue collection in light of the COVID-19 crisis, but also gave valuable insight of what we can expect from SARS in coming... Read more
Covid-19 stimulus: What does it mean?
Last night South African President Cyril Ramaphosa announced a social relief and economic support package of R500 billion, which amounts to 10% of GDP. R50 billion of this will be directed towards relieving the plight of the unemployed and current grant beneficiaries, through a multi-pronged approach. Those on a... Read more

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