In its South Africa Economic Outlook 2021 report, published last month, PwC put South Africa’s 2021 GDP growth at 2.5%, which it conceded was a conservative figure compared to other forecasts.
said the country is not keeping pace with other economies, but if its GDP does manage to keep up with Reserve Bank projections it may be able to catch up. PwC, Krugel said, is not optimistic about this prospect — projecting that the GDP will struggle to hit 3% growth in 2021. report, published last month, PwC put South Africa’s 2021 GDP growth at 2.5%, which it conceded was a conservative figure compared to other forecasts.
Krugel said: “If you take the growth that we saw in the first and the second quarter and we can repeat that in the third and the fourth quarter, then we will see growth of close to 4%. But my concern is that we will not be able to do that because of the unrest that we saw in KwaZulu-Natal and Gauteng.”
Economists are expecting muted, or even negative, growth in the third quarter as a result of July’s riots.
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