The “unexpected growth” of the South African economy is good news and gives hope to our people‚ President Jacob Zuma said yesterday.
Zuma congratulated the government‚ business and labour on the news that the economy grew by a seasonally adjusted 3.3% in the second quarter of the year‚ which was more than the 2.7% expected by most economists.
“The unexpected growth announced by Statistics SA was driven by an 8.1% increase in manufacturing and a 11.8% in mining and quarrying.Exports are also up by 18% and imports down by 5%‚” he said.
The figures indicate that the economy was resilient and had the potential to grow even more, despite the challenging domestic and global headwinds it faced, Zuma said.
“The cooperation between the government‚ business‚ labour and the community sector has yielded results and can only take the country further towards inclusive growth and much-needed jobs.”
Zuma reiterated that the government would continue to implement the National Development Plan with its process of intervention.