South Africa GDP Grew 1.3% in 2017

03/06/18 05:14 AM EST
   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


(END) Dow Jones Newswires

March 06, 2018 05:14 ET (10:14 GMT)

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