Eastern Cape "highly unlikely" to meet growth target

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 Provincial Planning and Treasury MEC, Phumulo Masualle says the Eastern Cape is highly unlikely to meet its growth target of 2.8% for 2012 - given the current economic conditions and outlook.

Replying to a question from the DA's Bobby Stevenson in the Bhisho Legislature, the MEC said the Eastern Cape economy had grown at 3% in the first quarter, 1.9% in the second and 1.7% in the third.

This means that in the first three quarters the provincial economy had grown at an annualised rate of 2.2%.

Masualle said in order to hit the projected target of 2.8%, the provincial economy would need to grow by 4.6% in the fourth quarter which was highly unlikely.

The data for the fourth quarter is not yet available.

(Source: Metro Minute to subscribe mail metminutes@iafrica.com)