IMF lowers South Africa’s forecast GDP growth for 2017
The International Monetary Fund (IMF) expects South Africa’s gross domestic product (GDP) growth to remain flat at 0.1% this year, noting that the economy will only experience a modest recovery in 2017.
Policy uncertainty was making the adjustment to weaker terms of trade more difficult, it noted, highlighting that this would be offset by commodity and drought shocks dissipating and power supply improving.
In its latest World Economic Outlook (WEO), published on Tuesday, the IMF outlined that the country could expect GDP growth of 0.8% in 2017.
This is lower than the growth of 1% forecast in the IMF’s July WEO.
It warned that unless a comprehensive structural reform package, which fosters greater product market competition, more inclusive labour market policies and industrial relations, and improved education and training, as well as reducing infrastructure gaps, was tackled, the country would not experience growth.
“Measures to improve State-owned enterprises’ efficiency and governance, including through greater private participation, are a particularly important element of the needed reform package to lift growth prospects and reduce contingent fiscal risks,” it pointed out.
While some of these reforms may take time to yield positive growth effects, immediate benefits could stem from improved confidence and the signalling of policy consistency, it added.
Comments
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
ENVASS is a customer and solutions-driven environmental consultancy with established divisions, serviced by highly qualified and experienced...
VISIT SHOWROOM
FlameBlock is a proudly South African company that engineers, manufactures and supplies fire intumescent and retardant products to the fire...
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
