Growth slumps, Gordhan remains confident

South Africa's growth slumped to just 1,3% for the second quarter according to figures published by Statistics SA but Finance Minister Pravin Gordhan remains confident that the growth forecasts for the country are accurate.

A decline in the economic growth creates pressure on South Africa's ability to create jobs. The Citizen says that so far this year, 310 000 jobs have been created in terms of the expanded public works programme.

Referring to economic growth, an article published in The New Age says that the National Treasury expects the economy to grow by 3,4% this year. In the light of the latest figures from Stats SA, the forecast might be revised downwards but this will only happen in October when the revised forecasts are released.

Many economists have lowered their growth forecasts for the year to about 3%, due to the slowing global economy.

Read the full report on growth prospects in The New Age
Read the report on job creation in The Citizen.
See the full figures from Statistics SA