GDP to only recover by 2023, says Reserve Bank
The Bank expects the economy to grow 3.6% this year and 2.4% in 2022
03 February 2021 - 18:21
The SA Reserve Bank says that GDP is only likely to return to its 2019 levels by 2023 and that the country’s high interest rates compared to developed nations provide it with a “powerful tool” to inject additional monetary stimulus into the economy given that inflation is under control.
“We are expecting to be back at 2019 levels of GDP in something like early 2023,” David Fowkes, a senior economist at the Bank said in a webinar hosted by Allan Gray on Wednesday...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.