According to FocusEconomics, provider of economic analysis and forecasts for some 127 countries, South Africa will be among the worst economic performers in Sub-Saharan Africa this year, with overall growth in the region expected to accelerate only marginally. FocusEconomics’ panel of economic analysts expects SA’s economy to expand by 1.3% this year and by 2% in 2017. The company said:
"The outlook continues to be negatively affected by low commodity prices and weak growth among the region's main trading partners."
The US Federal Reserve's monetary tightening will keep currencies under pressure this year, the company's analysts added, while the slowdown of the Chinese economy and domestic vulnerabilities within the region will further hamper growth.
While SA may have a hard year, its regional peers Kenya and Nigeria will expand by 6% and 3.8% respectively, said FocusEconomics.
- Stay connected, up to date and in the loop on what is happening in the world of finance and keep track of newly published expert insights and interviews with CFOs and CEOs. Become an online member and receive our newsletter, follow us on Twitter, like us on Facebook and join us on LinkedIn.
