DAVOS: South Africa's economy will probably grow a little faster than the 2.5 percent predicted by the International Monetary Fund, Finance Minister Pravin Gordhan said on Friday.
When asked whether growth will be as low as the IMF predicts, Gordhan told Reuters Insider television: "probably a little better."
The government's current official growth forecast is 3.4 percent. Gordhan will release updated forecasts in his Feb. 22 budget. Gordhan's Davos comments bring his projections in line with the South African Reserve Bank and the International Monetary Fund, which this month slashed their forecasts to 2.8 percent and 2.5 percent respectively.
The government has said it needs GDP growth of 7.0 percent to make a dent in unemployment, which stands at a quarter of the labour force.
Gordhan said President Jacob Zuma could announce measures aimed at boosting employment in his Feb. 9 State of the Nation address.
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