Bloomberg News

South Africa ‘Optimistic’ Growth to be Higher Than Forecast

April 01, 2012

South Africa’s economy may grow faster than the 2.7 percent government’s estimate this year, Finance Minister Pravin Gordhan said.

“We are cautiously optimistic that our recovery will continue, our growth will be slightly higher,” Gordhan told reporters in Pretoria, the capital, today. He declined to provide a specific forecast.

South Africa has a “carefully managed” fiscal trajectory, Gordhan said, responding to Standard & Poor’s move cutting the credit rating outlook for the nation to negative.

To contact the editor responsible for this story: Andres R. Martinez at amartinez28@bloomberg.net


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