Russia-Ukraine war likely to erode third quarter gains in the economy
FNB estimates the economy is likely to have rebounded 4.7% in 2021 from a contraction of 6.4% in 2020
07 March 2022 - 20:33
UPDATED 07 March 2022 - 21:23
GDP figures for the fourth quarter of 2021 due on Tuesday are expected to show that the economy rebounded from the social unrest-induced contraction of the third quarter, but it still remained vulnerable to uncertainties in Ukraine and lack of reforms.
FNB chief economist Mamello Matikinca-Ngwenya said while the bank was particularly encouraged by the strong economic rebound, it was still concerned about the “underlying structural weaknesses” such as the slow progress on needed reforms, inefficiencies of the state and corruption-related activities that prevailed pre-pandemic...
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