Egypt has overtaken SA as Africa’s 2nd largest economy

The Money Show’s Bruce Whitfield interviewed KPMG South Africa economist Christie Viljoen.

Viljoen spoke about the different ways the Egyptian economy is overtaking (or threatening to overtake) that of South Africa.

Scroll down for quotes from the audio below.

Their GDP has been growing steadily for the past five years.

Christie Viljoen

It’s a combination of us not doing well and them doing better.

Christie Viljoen

Egypt has a much smaller unemployment problem than we do.

Christie Viljoen

Tourism has recovered.

Christie Viljoen

Egypt has natural gas.

Christie Viljoen

The Suez Canal makes Egypt unique. They make a lot of money from that.

Christie Viljoen

Our import bill is big. Their current account deficit is about half the size of ours.

Christie Viljoen

Most of our fall to third place is of our own making.

Christie Viljoen

Enter your email address in the form below to receive a newsletter containing the seven most-read articles of the week from Bruce Whitfield’s The Money Show every Friday morning in your inbox.

Subscribe to our Business Wrap Newsletter

Article brought to us by Old Mutual.


This article first appeared on 702 : Egypt has overtaken SA as Africa’s 2nd largest economy


Recommended

by NEWSROOM AI

CapeTalk welcomes all comments that are constructive, contribute to discussions in a meaningful manner and take stories forward.

However, we will NOT condone the following:

  • Racism (including offensive comments based on ethnicity and nationality)
  • Sexism
  • Homophobia
  • Religious intolerance
  • Cyber bullying
  • Hate speech
  • Derogatory language
  • Comments inciting violence.

We ask that your comments remain relevant to the articles they appear on and do not include general banter or conversation as this dilutes the effectiveness of the comments section.

We strive to make the CapeTalk community a safe and welcoming space for all.

CapeTalk reserves the right to: 1) remove any comments that do not follow the above guidelines; and, 2) ban users who repeatedly infringe the rules.

Should you find any comments upsetting or offensive you can also flag them and we will assess it against our guidelines.

CapeTalk is constantly reviewing its comments policy in order to create an environment conducive to constructive conversations.

Read More
5 ways to get South Africa’s economy growing

5 ways to get South Africa’s economy growing

Faster, sustained economic growth is the solution to so many of our problems. Here’s how to make it happen...

Trends that are shaping African tourism (according to Airbnb)

Trends that are shaping African tourism (according to Airbnb)

The “sharing economy” and other trends will be discussed this week at the World Travel Market Africa conference in Cape Town.

Politics vs Economy = structural unemployment. A labour analyst explains…

Politics vs Economy = structural unemployment. A labour analyst explains…

Analyst Mamokgethi Molopyane says the clash between politics and the economy contributes to poor labour force participation.

Africa is doomed (and turbulent). Africa’s future is bright (it's stabilising)

Africa is doomed (and turbulent). Africa’s future is bright (it's stabilising)

Africa is failing. Africa is succeeding. Both statements are true, according to a new book on Africa's changing fortunes.

How to fix South Africa’s economy (by FT’s Chief Economics Commentator)

How to fix South Africa’s economy (by FT’s Chief Economics Commentator)

Martin Wolf talks about a column he recently wrote in which he shares his concerns for South Africa’s economy.

How to massively boost SA's economic growth (AND create large numbers of jobs)

How to massively boost SA's economic growth (AND create large numbers of jobs)

According to McKinsey, these five sectors of the economy could massively boost GDP growth in SA and create large numbers of jobs.

5 things that are driving (and hindering) economic growth in South Africa

5 things that are driving (and hindering) economic growth in South Africa

Why is our economy barely growing and how do we get it going? We spoke to ETM Analytics Chief Economist George Glynnos.

5 things Nigeria’s new president must get right to save Africa’s largest economy

5 things Nigeria’s new president must get right to save Africa’s largest economy

The honeymoon for Nigeria’s new president, Muhammadu Buhari, won't last long; he's got his work cut out for him.

Popular articles
Home Affairs set to undergo an upgrade in move to paperless system

Home Affairs set to undergo an upgrade in move to paperless system

A new live capture system will cover birth, marriage and death registrations.

SA-made Rolkem cake decoration products may not be safe to eat

SA-made Rolkem cake decoration products may not be safe to eat

The UK’s Food Standards Agency issued an advisory, claiming that Rolkem failed to confirm that their ingredients were safe to eat.

KFC South Africa’s Neymar mocking ad… so epic, Nando’s would be proud!

KFC South Africa’s Neymar mocking ad… so epic, Nando’s would be proud!

The South African ad is still trending around the world. Bruce Whitfield interviews branding and advertising expert Andy Rice.

[EXCLUSIVE] Willemse wants to restore his dignity at SAHRC hearing on walkout

[EXCLUSIVE] Willemse wants to restore his dignity at SAHRC hearing on walkout

Ex-Springbok and rugby analyst Ashwin Willemse speaks about the SuperSport saga, his Masters grad, overcoming adversity, and more.

SPCA responds to baboon shootings in Constantia Valley

SPCA responds to baboon shootings in Constantia Valley

The SPCA says it was not informed about a permit given to Constantia wine farms to hunt and shoot baboons.

Criminals targeting homes with aluminium windows, warns neighborhood watch

Criminals targeting homes with aluminium windows, warns neighborhood watch

The Panorama, Welgelegen and Plattekloof Neighbourhood Watch has identified a new house break-in trend.