South Africa’s gross domestic product (GDP) is unlikely to grow by more than about 1% this year, North West University Business School economist Professor Raymond Parsons said on Tuesday, following the announcement by Statistics South Africa (Stats SA) that GDP had contracted by 3.2% in the first quarter. Stats SA statistician-general Risenga Maluleke earlier on Tuesday said this had been the largest quarterly decline since the 2008/9 global financial crisis.
