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GDP could shrink by 7 percent says economist Updated Andrew Robertson Share this: An economist believes the latest statistics will show that gross domestic product grew substantially by at least 6% in the fourth quarter of 2020.  Money/ iStock But Mike Schussler says we are likely to see a 7% decline for the year.  We'll know the full picture when Statistics SA releases the figures this morning. Schussler says the economic bounceback is better than expected.  "We will get better growth than most of us to realise and that's a good thing. But we still not going to be back to where we were ...

We need to urgently turn most of the social grant earners – save for the elderly – into wage earners and job creators

Another report by Stats SA on tourism and migration for December 2020 showed that foreign arrivals decreased by 82.1% (from 1.5 million arrivals in December 2019 to 279,539 in December 2020). The report showed that while 163,335 tourists came from Europe in December 2019, only 26,880 arrived from the continent in December 2020. While 772,945 visitors came from other African countries in December 2019, only 161,358 arrived in December last year.  Tshivhengwa said the TBCSA made a presentation before the tourism portfolio committee this week on how bad the situation was and how it was deteri...

Tito urged to put jobs first in budget 23 February 2021 - 18:48 Image: SUPPLIED Finance minister Tito Mboweni’s budget today should prioritise creating jobs and protecting the livelihoods of the country's poor  to resuscitate the economy. This is the sentiment held by economists who spoke to Sowetan on Tuesday ahead of Mboweni's budget which will be tabled in parliament this afternoon. Economist Duma Gqubule said Mboweni is in a better position than anticipated as the revenue shortfall is better than predicted in the budget last year. The government has R100bn more than i...

The food and non-alcoholic beverages category was the main driver of inflation in December 2020. Stock photo. Image: 123RF/RICHARD THOMAS The food and non-alcoholic beverages category was the main driver of inflation in December 2020, Statistics SA (Stats SA) announced on Wednesday. Consumer price inflation was 3.1% in December, down from 3.2% in November, Stats SA said. It said food and non-alcoholic beverages increased by 6% year-on-year, and contributed one percentage point to the total consumer price index annual rate. It said three food groups recorded above average annual and m...