IMF revises South Africa's growth outlook for 2021

File: The IMF logo seen outside the head office. AFP/Brendan Smialowski

JOHANNESBURG - The International Monetary Fund has revised South Africa's growth outlook upwards from four-percent to four-percent for this year.

The latest forecast is good news for the country, which needs to show investors that the economy has growth potential.

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It follows an upward revision from the Reserve Bank last month when it said the local economy is likely to grow by 5.3-percent this year.

The higher than expected growth comes from a low base last year during which the economy contracted by more than 6 percent.

In its latest global economic outlook, the IMF has warned slow vaccination rates in developing countries will halt their recovery.   


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