https://www.engineeringnews.co.za
Africa|Financial
Africa|Financial
africa|financial

IMF worried about impact of South Africa's growth outlook on poverty

7th June 2022

By: Reuters

  

Font size: - +

The International Monetary Fund (IMF) said on Tuesday at the end of a visit to South Africa that its staff were increasingly concerned about the country's economic growth outlook and the implications on employment, poverty and inequality.

Africa's most industrialised economy has recovered from the Covid-19 pandemic faster than many analysts had predicted, with data on Tuesday showing first-quarter output reached pre-pandemic levels.

But the recovery has been uneven across sectors, and the country is one of the most unequal in the world.

In a statement, the IMF pointed to a series of shocks which it said adversely affected South Africa's economic trajectory.

"The flooding in Durban, uncertainty about the war in Ukraine, tightening of global financial conditions, and China's slowdown pose challenges to growth and price stability," the IMF said.

"Policy action needs to focus on mitigating the impact of these shocks while addressing longstanding structural economic obstacles to growth."

Edited by Reuters

Comments

Showroom

Booyco Electronics
Booyco Electronics

Booyco Electronics, South African pioneer of Proximity Detection Systems, offers safety solutions for underground and surface mining, quarrying,...

VISIT SHOWROOM 
Weir Minerals Africa and Middle East
Weir Minerals Africa and Middle East

Weir Minerals Europe, Middle East and Africa is a global supplier of excellent minerals solutions, including pumps, valves, hydrocyclones,...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

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?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.078 0.134s - 176pq - 2rq
Subscribe Now