Old constraints to stall SA’s recovery even as GDP rebounds in 2021, World Bank says
World Bank says stronger recovery in SA will be prevented by ongoing electricity shortages
The World Bank, which upgraded its forecast for SA's economic expansion in 2021, warned that the recovery would then be constrained as Covid-19 restrictions and long-standing problems such as Eskom’s power cuts prevent it from gaining momentum after the biggest slump in a century.
In its April 2021 Africa Pulse publication released on Wednesday, the global development lender raised its 2021 growth forecast for SA to 3%, citing a boost in demand for commodities as key economies pick up steam. But that's still below predictions by the Treasury and the Reserve Bank. The central bank said last week that SA's GDP, which shrunk 7% in 2020, would rebound 3.8%...