South Africa GDP Grew 1.3% in 2017
By Gabriele Steinhauser
JOHANNESBURG--South Africa's economy grew 1.3% in 2017, the country's statistics agency said Tuesday, marking a significant pickup from a 0.6% expansion in 2016.
The growth figure is above the government's own estimates, which forecast a 1% expansion in gross domestic product for 2017. It will aid efforts to cut a deficit estimated at 4.3% of GDP for the fiscal year ending March 31.
Growth in the final three months of last year accelerated to an annualized rate of 3.1% compared with 2.3% growth in the third quarter.
The government expects GDP to grow 1.5% this year, before increasing to 1.8% in 2019.
Write to Gabriele Steinhauser at email@example.com
(END) Dow Jones Newswires
March 06, 2018 05:14 ET (10:14 GMT)Copyright (c) 2018 Dow Jones & Company, Inc.