GDP set to contract by 45% - economist
South Africa’s economy is expected to contract by 45% in the second quarter of the year, according to economist Francois Stofberg.
Statistician-general Risenga Maluleke is set to announce the latest Gross Domestic Product on Tuesday – and it could see South Africa’s worst economic performance in a century.
"Even if the economy contracts 45% in the second quarter, down from a 2% contraction in the first quarter, expectation from this low bases for the third quarter growth is in the region of 18%.
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"Even if you have a very muted fourth quarter the annual figure will only be around negative 10%," said Stofberg.
Listen to Stofberg below:
