World Bank: SA's economy on the up

The World Bank says it anticipates growth in SA's economy this year, and increased investment

According to new data published by the World Bank, South Africa’s economy is forecast to increase to 1.1 percent this year. This is up from 0.8 percent in 2017. Moreover, the Bank said that South Africa’s GDP is expected to grow 1.7 percent in both 2019 and 2010.

In its recently released annual global economic outlook for 2018, the Bank said:

“The recovery is expected to solidify, as improving business sentiment supports a modest rise in investment. However, policy uncertainty is likely to remain and could slow needed structural reforms.”

The Bank further said that sub-Saharan Africa growth in the region is anticipated to pick up to 3.2 percent in 2018, up from 2.4 percent in 2017. Moreover, it said that growth in emerging market and developing economies as a whole is projected to strengthen to 4.5 percent this year, as “activity in commodity exporters continues to recover amid firming prices”.

Pictured: Jim Yong Kim, President of the World Bank