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Pretoria - Business Unity South Africa (BUSA) is "cautiously optimistic" about the economic and business outlook for 2011.
"Although economic recovery this year has been mild, and is likely to fall short of 3% growth, the prospects for 2011 are much better," said BUSA President Futhi Mtoba.
She predicted SA's economy could grow by 3.5 percent to 4 percent next year, spurred by stronger growth forecasts for the global economy, combined with positive domestic economic trends.
BUSA said interest rates are likely to remain low for most of 2011.
"Although unemployment will remain high, BUSA hopes that next year will see the emergence of new net job creation, albeit on a small scale. Overall, BUSA trusts the SA economy will be stronger, bigger and better next year," said Mtoba.
BUSA said the debate around the New Growth Path was an excellent opportunity for business to contribute to the vision and to its implementation.
"Whatever ambitious higher growth path SA eventually sets for itself, it will not be attainable unless we can better address the gaps identified in our economic performance. It is a collective challenge.
"Each sector also must take responsibility for its role in our society. The debate, which will eventually take place in Nedlac and elsewhere on the government's proposals for a higher inclusive job rich growth path for SA, should be informed by cogent and relevant economic realities," said Mtoba.
