Egypt has overtaken SA as Africa’s 2nd largest economy

The Money Show’s Bruce Whitfield interviewed KPMG South Africa economist Christie Viljoen.

Viljoen spoke about the different ways the Egyptian economy is overtaking (or threatening to overtake) that of South Africa.

Scroll down for quotes from the audio below.

Their GDP has been growing steadily for the past five years.

Christie Viljoen

It’s a combination of us not doing well and them doing better.

Christie Viljoen

Egypt has a much smaller unemployment problem than we do.

Christie Viljoen

Tourism has recovered.

Christie Viljoen

Egypt has natural gas.

Christie Viljoen

The Suez Canal makes Egypt unique. They make a lot of money from that.

Christie Viljoen

Our import bill is big. Their current account deficit is about half the size of ours.

Christie Viljoen

Most of our fall to third place is of our own making.

Christie Viljoen

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Article brought to us by Old Mutual.

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