Thursday, February 26, 2009

Finance Minister says SA not in recession

By Mikhaila Crowie
25 February 2009


Finance Minister Trevor Manuel says South Africa is not in a recession, despite what some economists have said.

Manuel told a news programme that he realised that there were factors that made it seem as though South Africa was in a recession, but technically, the country was not.

Referring to Zimbabwe, Manuel said the Southern African Development Community was considering the investment of 2-billion US dollars into Zimbabwe's reconstruction.

New Prime Minister Morgan Tsvangirai has said 5-billion US dollars is needed to reconstruct the country.

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