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Upbeat forecast for Western Cape economy

4 Oct 2011

The Western Cape's economy has been forecast to grow at 3,9% this year from 2,4% last year and should peak at 4,3% in 2014 according to the Western Cape's Provincial Economic Review & Outlook for 2011.

Business Live quotes Alan Winde, the Western Cape's MEC for Economic Development and Tourism as saying the outlook was "moderately upbeat". The report was published earlier than usual so that other government departments could use it for economic planning purposes.

The services sector is expected to be the primary driver for economic growth in the Western Cape.

Meanwhile, the Bureau for Economic Research at the University of Stellenbosch says that South Africa's gross domestic product growth should reach 3,8% this year, an improvement on last year's 2,8%. It expects growth of 3,7% next year.

Read thefull article on www.businesslive.co.za.
Read the speech by Alan Winde.
View the Provincial Economic Review & Outlook 2011