IMF has Revised Downwards SA’s Economic Growth projections

Written by on 27 January, 2021

The International Monetary Fund has revised downwards South Africa’s economic growth projections for the year.

The country is expected to rebound to 2.8% this year, but growth may slow to just 1.4 percent next year.

The IMF’s Gita Gopinath says the global economy is projected to grow to 5.5 percent this year, a slight upward revision from the previous forecast.

She adds that this reflects expectations of a COVID-19 vaccine-powered strengthening of activity later in the year and additional policy support in a few large economies.

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