The National Executive Committee of the African National Congress says the are very much optimistic that the ANC-led government will achieve growth forecast of 2.9% in 2017.
“The ANC is optimistic that the 2017 growth forecast of 2.9 per cent will be achieved. ” – ANC NEC
ANC NEC #ANC105:
Prior to the global crisis, South Africa’s economy was growing at an average of nearly 4 per cent. Millions of jobs were created. Basic service provision was expanding and so was social welfare inclusion. We were making rapid strides on eradicating poverty, joblessness and inequality. We were on course to delivering on a promise of a more socially just society.
The global economic recovery is currently very unstable. Consequently, as we are connected into the global economic system, we have been impacted negatively. Growth is slow or negative in major developed and developing economies. Investment by private sector is, particularly in the developing countries, low. Trade between countries has fallen. Growth in Sub-Saharan Africa is estimated to have slowed to 1.4 per cent in 2016 from 3.4 per cent in 2015.
The ANC is optimistic that the 2017 growth forecast of 2.9 per cent will be achieved.