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
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
'I’ve never invested in the stock exchange. I know it too well'

'I’ve never invested in the stock exchange. I know it too well'

Bruce Whitfield interviews Prof Lorenzo Fioramonti (UP) about his attitude toward money (hopes, fears, successes, failures, etc.).

[LISTEN] Painting worth MILLIONS missing from Magashule's old office

[LISTEN] Painting worth MILLIONS missing from Magashule's old office

Investigative journalist, Pieter-Louis Myburgh says the artwork, owned by the Free State government, is worth between R6m and R8m.

DA: Whether you are from Switzerland or Swaziland, you must be documented in SA

DA: Whether you are from Switzerland or Swaziland, you must be documented in SA

The DA defends its immigration plans saying no country can afford not to secure its borders.

CT council to decide on charging De Lille following new forensic report

CT council to decide on charging De Lille following new forensic report

The Bowman Gilfillan report, yet to be made public, found that De Lille allegedly failed to report tender corruption to council.

Judge in Omotoso case dismisses defence application to recuse himself

Judge in Omotoso case dismisses defence application to recuse himself

Judge Mandela Makaula has dismissed the defence application saying it has no merit.

Zondi tells court that she had to 'look happy' in church out of fear for Omotoso

Zondi tells court that she had to 'look happy' in church out of fear for Omotoso

Cheryl Zondi is testifying against Pastor Timothy Omotoso who is accused of rape and human trafficking in his Durban church.

Why Genetic Sexual Attraction isn't quite the same as incest

Why Genetic Sexual Attraction isn't quite the same as incest

Clinical sexologist Dr Eve unpacks the complex phenomenon of estranged relatives who are sexually attracted to each other.