The IMF revised downwards SA’s economic growth projections for the year and expects GDP expansion to be almost a percentage point lower than the Reserve Bank’s most recent forecasts, as emerging markets lag behind a potential recovery due to hits to tourism and some commodity markets.

The US-based lender of last resort said in its World Economic Outlook report released on Tuesday that SA’s economy would grow 2.8% in 2021, a slight downgrade on its 3% projection in October. The economy is estimated to have declined 7.5% in 2020, the organisation said. It said growth would slow in 2022, to just 1.4%...

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