IMF expects lower growth for SA

Washington – The International Monetary Fund has downwardly revised South Africa’s growth prospects for this year and the next, as were those of most developing economies. Global economic prospects, however, remained unchanged according to the latest installment of the World Economic Outlook, released on Tuesday.

The IMF now expects the South African economy to grow by 2% this year, down from 2,1% in its previous forecast, and 2,1 % in 2016 for a downward revision of 0, 4%. Global growth outlook remained unchanged at 3,5% for this year and 3,8% the next, an increase of 0,1%.