Statistics South Africa statistician-general Risenga MalulekeAccording to Statistics South Africa, the annualStats SA further notes that gross domestic product accelerated by 1.2% in the fourth quarter of 2021, with manufacturing, agriculture, trade and transport as the main drivers.Economists say last year’s economic growth can largely be attributed to rebasing effects as the economy was coming from a very low base following a deep contraction in 2020.
“South Africa stands to benefit from higher commodity prices in the short term. But one is concerned that in the longer term the crisis, especially due to higher commodity price, especially oil prices might bring about a global recession,” adds Jammine.
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