![\"Projected](\"http:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2015\/10\/Projected-GDP-2015.png\")
<\/a>Projected GDP 2015<\/p><\/div>\n
However, the investment group did note that the Egyptian pound was one of the continent’s most over-valued currencies, while the rand was the most under-valued.<\/p>\n
\u201cOne thing that strikes me is how negative on their own country South Africans are. [They have] deficits, a lack of reform and no growth, and the rand is one of the proxies to short if you are negative on EM,\u201d Robertson said, via the Financial Times<\/a>.<\/p>\n Meanwhile, chief economist at Economists.co.za Mike Sch\u00fcssler has told Fin24<\/a> that the economic outlook for South Africa is not good, with its decline gaining momentum.<\/p>\n He was commenting on the latest BankservAfrica Economic Transaction Index (Beti) released on Wednesday.<\/p>\n The Beti shows just how rapid the decline in the South African economy is.<\/p>\n “The Beti is a good co-incident indicator, which is confirming the overall decline in the domestic economy. Five of the last nine months have indicated monthly declines, coupled with four quarter-on-quarter declines,” said Sch\u00fcssler.<\/p>\n Forecasts from official sources such as the International Monetary Fund and the South African Reserve Bank (Sarb) indicate much slower growth for 2015 and 2016.<\/p>\n South Africa was the leading economy in Africa up until April 2014, when a rebasing of Nigeria’s economic indicators pushed the country to number 2.<\/p>\n While most African countries are expected to see GDP growth of 4% and over, South Africa is expected to scrape by with around 1.5% growth at best.<\/p>\n President Jacob Zuma has placed the blame for the slow economy at the feet of apartheid, calling it “colonialism of a special type” which competing countries never had to deal with.<\/p>\n Weak economy is apartheid\u2019s fault: Zuma<\/a><\/strong><\/p>\n Why President Zuma is wrong on the economy<\/a><\/strong><\/p>\n How much money South Africa contributes to the global economy<\/a><\/strong><\/p>\nMore on South Africa<\/h3>\n