STAFF REPORTER
PRESIDENT Cyril Ramaphosa says that the 13.5% rebound in the GDP during the third quarter of 2020, or 66.1% on an annualised basis, shows that a strong economic recovery is possible, even as the economy remains below its pre-pandemic levels.
“The strong rebound in GDP growth for the third quarter provides support for the approach that we have taken both to confront the pandemic and to protect the economy. Our task now is to ensure that this momentum is sustained, to enable a full recovery of the economy,” said Ramaphosa.
Stats SA announced on Tuesday that South Africa’s economy rebounded in the third quarter of 2020 (July–September), coinciding with the easing of COVID-19 lockdown restrictions.
Gross domestic product (GDP) grew by an estimated 13,5% in the third quarter, giving an annualised growth rate of 66,1%.1 This follows the significant slump of 16,6% (annualised: -51,7%) in the
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