Treasury MEC, Elzabe Rockman, says the province contributed a paltry 5% towards SA’s total GDP over a three-year time frame. Rockman tabled the province's budget at the Xhariep Dam today. The MEC attributed the province’s stagnant economy to a decline in the industries of agriculture and mining between 2009 and 2017. These industries are at the heart of the province’s economic activity. Manufacturing, electricity, and construction industries are not displaying any signs of growth, while tertiary activities saw a marginal increase. Olebogeng Motse reports there is a small window of hope for the province.

Rockman says the Free State’s economy is projected to recover slightly at 0,9%, thanks to the transport, agriculture and finance industries, which are projected to grow at 3,2%, 2.9%, and 2,8% respectively. Rockman cautions that these industries are vulnerable to external factors. Transport is affected by the fluctuating crude oil prices, and the agriculture industry – central South Africa as a whole - has been adversely affected by weather conditions of late.

The Free State Treasury MEC delivered her budget speech after it was revealed that the country ended off 2018 with a GDP growth of 0,8%, slightly higher than expected. The rand performed better against major currencies after the positive economic figures were released. National Treasury had projected the country’s GDP growth would be 0,7%.

At the height of Ramaphoria at the end of 2017, after Cyril Ramaphosa was voted in as the President of the ANC, the economy saw a 1,4% GDP growth.

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