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South Africa Regains Pole Position As Africa’s Largest Economy by JAWBONE(m): 9:29pm On Aug 10, 2016 |
S TAGS: South Africa outh Africa has regained its position as Africa’s largest economy in dollar terms after hovering between second and third place. In April 2014, Africa’s most advanced economy was relegated to second place by Nigeria after the West African country rebased its gross domestic product (GDP) data. In 2016 it flirted with third place as Egypt moved to second position. Now it is back on the top. According to Bloomberg , “based on gross domestic product at the end of 2015 published by the International Monetary Fund, the size of South Africa’s economy is $301 billion at the rand’s current exchange rate, while Nigeria’s GDP is $296 billion.” The change comes as the rand gained over 16 per cent against the dollar since the start of the year, while Nigeria’s naira lost over a third of its value following the Central Bank of Nigeria’s removal of the country’s currency peg in June, says the media company. http://www.cnbcafrica.com/news/financial/2016/08/10/south-africa-economy-size/ 1 Like
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Re: South Africa Regains Pole Position As Africa’s Largest Economy by braine(m): 9:31pm On Aug 10, 2016 |
Buhari why?!!! : |
Re: South Africa Regains Pole Position As Africa’s Largest Economy by pacretus(m): 9:36pm On Aug 10, 2016 |
sai buhari......what an epitom of bad luck.. Shine on FPGoodluck EJ..ur papa born u well. Click like if Buhari=badluck. Click share if Buhari=goodluck. 1 Like |
Re: South Africa Regains Pole Position As Africa’s Largest Economy by nnachukz(m): 9:36pm On Aug 10, 2016 |
When a dullard is the President, the economy will be moving backward. |
Re: South Africa Regains Pole Position As Africa’s Largest Economy by wordbank(m): 9:43pm On Aug 10, 2016 |
The news came late, I expected it earlier this year 1 Like |
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