B riefs usiness

IMF downgrades SA as top three world economies stall

The International Monetary Fund (IMF) this week downgraded its outlook for South Africa’s economic growth for 2022 to 2.1% from 2.3% previously.

This is as the Washington-based lender warned that the world’s three biggest economies – the US, European Union and China – will continue to stall. The IMF, for example, said China is now at the lowest its been in 40 years.

It said these conditions are expected to negatively impact advanced and emerging economies – including South Africa.