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That estimate compares with official forecasts that the continent’s biggest economy will grow by 2.9 percent in 2004 from 1.9 percent last year, quickening to 3.6 percent in 2005 and 4.0 percent in 2006.
“The economy is doing very well there is a possibility that our growth rate could hit four percent in the next while,” Mboweni said. “For as long as inflation remains low I think the possibilites are quite good,” he added. He gave no other details.
Mboweni was speaking to Johannesburg’s talk radio 702 after the release of figures on Tuesday which showed gross domestic product expanded 3.1 percent in the first quarter, up from 1.3 percent in the final three months of 2003. (Reuters)
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