Economy to grow 2.3% in 2010. (BBC)
February, 16, 2010
This year football world cup scheduled to be held in South Africa is expected to boost the country’s economic growth by 2.3 %. South Africa like the rest of the world was in a recession last year, the economic minister gave the prediction as he delivered the budget. He expects that spending by footballs that will be arriving in the nation will add a 0.5% increase to the economy.
Youth employment was also high on the budget, South Africa is facing unemployment rate of about 25%. The gap between the rich and poor does not seem to be improving. The government is currently focused on reducing its budget deficit in the medium term.