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Breaking even
Tue, 28 Jul 2009 12:00
Economic growth in South Africa is expected to fall to 1.1 per cent in 2009 due to the impact of the global economic crisis on demand for its mineral exports compounded by a contraction in private consumption and investment, according to an OECD report on Monday.
The report notes that economic growth in Southern Africa registered 5.2 percent in 2008, down from seven percent in 2007. It is expected to slow dramatically in 2009 to 0.2 percent before recovering to 4.6 percent in 2010.