SA growth rate for 2017 still at 1.3% - presidency

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Cape Town - South Africa's official growth forecast still stands at 0.5% for 2016, rising to 1.3% in 2017, the presidency said in a statement on Sunday.

In reaction to inquiries about the reference to an economic growth rate of 2.9% in the ANC's January 8 anniversary statement, the presidency clarified that the 2.9% mentioned in the statement is the growth rate for sub-Saharan Africa.
 
"Growth in sub-Saharan Africa is estimated to have slowed to 1.4% in 2016 from 3.4% in 2015. For 2017 growth in the region is more optimistically projected to rise to 2.9%," it explained. 
 
Government's official forecast remains the same as stated in the mini budget in October last year, the presidency said.

It added that further updates on growth estimates will be provided in February 2017's budget presentation.

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