IMF re­tains its SA growth fore­cast

The Star Early Edition - - BUSINESS REPORT -

THE IN­TER­NA­TIONAL Mon­e­tary Fund yes­ter­day re­tained its fore­cast that South Africa will grow by 0.8 per­cent in 2017 and by 1.6 per­cent in 2018. The 2017 pro­jec­tion is sur­pris­ingly out of line with that of the World Bank, which last week fore­cast South Africa’s growth at 1.1 per­cent in 2017. The World Eco­nomic Out­look Up­date pre­dicted Nige­ria’s econ­omy, cur­rently in de­pres­sion, will growth at 0.8 per­cent in 2017, ris­ing to 1.6 per­cent in 2018, putting the big­gest econ­omy in Africa at par with South Africa, the con­ti­nent’s largest econ­omy by in­dus­tri­al­i­sa­tion. The IMF said Nige­ria’s fore­casts were re­vised up, pri­mar­ily re­flect­ing higher oil pro­duc­tion due to se­cu­rity im­prove­ments. – Wise­man Khuzwayo

Newspapers in English

Newspapers from South Africa

© PressReader. All rights reserved.