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South Africa economy estimated to be 4.9% bigger after rebasing
South Africa economy estimated to be 4.9% bigger after rebasing
South Africa's economy was estimated to be 4.9% larger than previously reported after a benchmarking and rebasing exercise, the statistics agency said on Thursday.
Statistics South Africa said the exercise raised the size of the economy in 2022 to R6.99-trillion from a previously published estimate of R6.67-trillion.
The agency said it changed the base year for its gross domestic product (GDP) estimates to 2022 from 2015.
It also took into account changes in the composition of formal and informal parts of the economy.
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