Addressing supporters at the ANC’s 105th birthday celebrations at Orlando Stadium in Soweto, President Jacob Zuma predicted a 2017 growth forecast of 2.9 percent despite the slow recovery in the global economy.
Chief economist at Econometrix, Dr. Azar Jammine, says the economy will improve by at least one percent compared to last year.
However, Jammine says Zuma's 2.9% target is unlikely to be met due to political dynamics in the country. He argues that these factors mitigate against businesses desire to invest in new capital projects in South Africa.
I think we should see a figure somewhere between 1-2%. 2.9 is really over the top of most people's forecast.— Dr. Azar Jammine, Chief economist at Econometrix
There is no question that 2017 is likely to be volatile politically, especially in the run for the ANC's elective conference in December.— Dr. Azar Jammine, Chief economist at Econometrix
Listen to the full interview below to hear what should be done to maximise economic growth...