S. Africa Treasury Predicts Growth Pickup as Confidence Returns
- Treasury projects economy to expand 1.5% in 2018, 1.8% in 2019
- Fiscal-consolidation plan may stave off credit-rating cut
This article is for subscribers only.
With a new leader at the helm and confidence improving, growth in Africa’s most-industrialized economy may accelerate to levels last seen in 2014, according to National Treasury forecasts.
South Africa’s economy is forecast to expand 1.5 percent this year, compared with the previous projection of 1.1 percent and an estimated 1 percent in 2017, National Treasury said in its 2018 budget review. Growth will probably accelerate to 2.1 percent in 2020 as measures aimed at creating policy certainty and attracting investment pay off, it said.