The South African economy is Resilient And Has Managed To Withstand Extreme Pressure, The ANC Said On Tuesday In Reaction To The Latest GDP Figures.
“The 0.6 percent growth has marked the resilience of our economy that has been in the same band with most of the countries who had been experiencing economic downturn following the world economic meltdown,” African National Congress spokesman Zizi Kodwa said in a statement.
“While South Africa has managed to withstand extreme impact on our economy it was also taking long to recover owing to secondary factors like the strike season and performance of the rand due to decline of minerals and exports,” he said.
According to Statistics SA, the country’s economy grew by 0.6 percent in the second quarter of 2014.
This was compared to a 0.6 percent decrease in the real Gross Domestic Product (GDP) in the first quarter of the year.
The GDP is the total value of goods and services produced in an economy in a certain time period.
