From 3.5 per cent growth in 2015 to 1.4 per cent in 2016, there has been a decline in growth rates in Sub-Saharan Africa. Also in South Africa, the government budget and reports during the last quarter of 2016 indicates a growth rate expectancy of 0.5 per cent in 2016 while anticipating for a 1.3 per cent growth for this year.
Resulting from an announcement of the governing party during the January 8 anniversary statement which indicated an economic growth of 2.9 per cent, there has been a number of concerns from the public. However, the 2.9 per cent growth in the statement is for the growth rate for Sub-Saharan Africa. The growth rate forecast for this year will be made known during the country’s 2017 Budget presentation in February. The formal broadcast to be noted by all is a growth rate of 1.4 per cent in 2016 for Sub-Saharan Africa, and an estimated growth rate of 2.9 per cent for Sub-Saharan Africa not South Africa.