Cosatu Expresses Concern Over South Africa’s 0.3% GDP Contraction

Cosatu Expresses Concern Over South Africa’s 0.3% GDP Contraction

S.A Union Cosatu says it is disheartening that the country’s gross domestic product has contracted by 0.3-percent in the third quarter compared to the second quarter. Statistics South Africa said the leading contributors to the decline were agriculture, transport, and communications. Cosatu’s, Zanele Sabela, says for a brief period, it appeared as if things were improving when expanded unemployment fell by 0.7-percent, and inflation dropped to 2.8-percent:

December 4, 2024 6

Business / Economics

Economist Urges Reforms as South Africa’s GDP Shrinks by 0.3%

In S.A, North-West University Business School economist, Raymond Parsons, has called for urgent economic reforms following the disappointing gross domestic product growth figures for the third quarter, when it decreased by 0.3-percent. Parsons calls for more investment and faster reforms from both the public and private sectors to drive job-rich growth and improve the economy:

December 4, 2024 8