Johnathan Paoli
Government has welcomed the release of the latest Gross Domestic Product (GDP) figures by Statistics South Africa, which showed a slight growth of 0.1% in the 4th Quarter of 2023, reflecting resilience and gradual economic recovery amidst ongoing challenges.
Gauteng Finance MEC Jacob Mamabolo delivered the budget speech for the 2024/25 financial year and said that the real GDP in the 4th Quarter reached R1 158 billion, marking continuous improvement from the pre-COVID-19 level of R1 150 billion though still below the peak recorded in the 3rd Quarter of 2022.
The Minister in the Presidency, Khumbudzo Ntshavheni said the increase, though slight, signifies continued progress in the country’s economic recovery, resilience of the country’s economy and the positive impact of government interventions.
“This growth is particularly encouraging as it surpasses pre-pandemic levels. This indicates a resilient economy showing signs of recovery, and bettering previous strength. We are particularly
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