Economy

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cyril ramaphosa
cyril ramaphosa

The state of the economy will be top of the agenda at the four-day Cabinet Lekgotla. The implementation of the National Development Plan will be discussed as there currently is uncertainty in the mining sector.

The SA Chamber of Commerce and Industry stated that business confidence in December has improved. However it is still not at a convincing level to investors. Despite the pace of decline in business confidence having moderated during the year the level at the end of 2012 was still unacceptably low.

The country?s real Gross Domestic Product (GDP) in the fourth quarter of 2011 rose to 3.2% which was slightly better than the market expectation of a 3.1% quarter-on-quarter increase according Statistics South Africa (Stats SA).

The South African economy's Real Gross Domestic Product (GDP) contracted to 1.3% in the second quarter of 2011, the slowest rate in almost a year, but according to Nedbank economists the weak numbers were 'in line with their expectations'.

Idasa's Public Expenditure and Smallholder Agriculture Project has welcomed the Land Bank's commitment to spend R1 billion on emerging farmers in the next two years to promote rural employment, build value chain development and encourage investment in agriculture.

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