SA’s growth outlook slashed as IMF calls for reform
IMF cuts SA’s growth forecast to just 1% for 2024 because of logistics problems and power shortages
31 January 2024 - 05:00
SA’s logistical challenges and its debt burden and high borrowing costs are two big clouds hanging over the economy, the IMF said after it almost halved SA’s growth forecast to just 1% for 2024 — and called for SA to implement reforms and lower its budget deficit.
In its World Economic Outlook Update, which it launched in Johannesburg on Tuesday, the IMF took a more positive view of global prospects than it has for some time, saying the global economy had begun the final descent to a “soft landing”, with inflation declining steadily and growth holding up...
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