Over the medium term, the South African economy is projected to grow relatively faster, at a rate of 3 per cent in 2013, picking up slightly to 4.1 per cent in 2015. The assumptions underlying these forecasts are expanding public sector investment in infrastructure, activation of new electricity-generating capacity, improving private sector confidence, relatively low inflation and interest rates and strong growth in the Southern African region, SA's second largest export destination. The FFC sees the downward revision of economic growth figure from 2.7 per cent to 2.5 per cent in 2012 as indicative of pressures globally and internal risks. BUSA shares the realistic assessment of the economic outlook given in the Medium Term Budget Policy Statement (MTBPS) in respect of both the external and internal factors. There is also a close convergence between the National Treasury (NT) and BUSA's economic forecasts.