The World Economic Outlook released today at the start of the spring meetings of the IMF and World Bank forecasts that South Africa’s real GDP growth will slow to just .1%, far behind the 3.6% predicted for sub-Saharan Africa overall. Growth is expected to rebound in 2024, with GDP increasing by 1.8% in South Africa and 4.2% in the broader region.
“Tentative signs in early 2023 that the world economy could achieve a soft landing — with inflation coming down and growth steady — have receded amid stubbornly high inflation and recent financial sector turmoil,” the IMF said.
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