The International Monetary Fund has raised its 2022 growth forecast for the South African economy.
The lender is citing elevated commodity prices and places it on a small list of countries that are expected to fare better in a darkening global outlook.
In its latest world economic outlook report, the IMF says SA’s GDP is likely to grow by 2.3% this year, an upgrade from the 1.9% forecast in April and broadly in line with the Reserve Bank’s projections.
The international lender’s growth forecast for 2023 is unchanged at 1.4%.
IMF’s country representative in SA Max Alier elaborates.
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