Gordhan: SA not heading for recession

IOL pic dec14 pravin gordhan 2948092 GCIS Finance minister, Pravin Gordhan. Picture: Linda Mthombeni

Cape Town - South Africa's economy will not slip into recession, Finance Minister Pravin Gordhan said on Thursday, countering predictions by some economists that sharp currency weakness pointed to a contraction this year.

“We are growing as an economy, we are not going into a recession. But we are not growing fast enough,” Gordhan told a media briefing after a Cabinet meeting.

Gordhan, who returned as finance minister in December, said he would be meeting with the central bank to discuss how to deal with the challenges of growth.

REUTERS

Like us on Facebook

Connect with us on LinkedIn

Follow us on Twitter

Hungry for more business news? Sign up for our daily newsletter!



sign up