Real GDP growth for the year 2001 was just over 2 per cent and even if this is less than is required for robust job creation and per capita income growth, it is certainly significantly higher than the growth registered by our most important trading partners and many other economies that had been affected far more severely by the slowdown in the world economy.
Moreover, many professional forecasters now expect at least a moderate recovery in the world economy through the end of the year and beyond, while growth in the 2 to 3 per cent range is widely forecasted for the South African economy this year. South Africa's near-term growth prospects are encouraging and official estimates for the first two quarters of this year exceeded expectations.