South Africa Growth Expected To Be Slow But Steady

10 April 2012 17:00 - Jack Stupple

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South Africa Growth Expected To Be Slow But Steady

South Africa is expected to show stable growth in the next five years. When compared to other African countries this growth may seem moderate. Mozambique and Ghana are expected to average growth of over 7% in the next five years, whereas South Africa’s GDP growth is expected to remain between 2% and 4% for the same period. Craig Parker, economics and research analyst from Frost & Sullivan, an international consulting and research firm, believes a relatively strong consumer spending power, a large market and a stable and diverse economy makes South Africa an attractive market in an African context

Inflation is set to decline slightly until 2017, with interest rates rising by 2% during the period. Inflationary pressure is expected to be predominantly supply-driven, in the first half of the forecast period, with consumption expenditure increasing in 2014.

South Africa has many growth prospects for the future. There are various short and long term infrastructure projects that in place for the South African economy that will drive job creation and will stimulate economic growth. Frost & Sullivan say that the major areas identified for infrastructure development are for the energy, transport, water and sanitation sectors.

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