The World Bank on Monday joined the South African Reserve Bank in revising SA’s economic growth forecasts down‚ warning that poverty and unemployment remained stubbornly high.
In its outlook report for sub-Saharan Africa‚ the World Bank adjusted its economic growth forecast for SA for this year to 1.5%‚ the same as the Reserve Bank. For next year growth will be at 1.7% from 2%‚ and for 2017 2% from 2.4%.
World Bank lead economist for SA Catriona Purfield said at these growth rates‚ at least 14% of South Africans would remain in extreme poverty and unemployment would increase‚ given the threats to jobs in mining.
SA growth too low to cut poverty‚ says World Bank
The World Bank on Monday joined the South African Reserve Bank in revising SA’s economic growth forecasts down‚ warning that poverty and unemployment remained stubbornly high.
In its outlook report for sub-Saharan Africa‚ the World Bank adjusted its economic growth forecast for SA for this year to 1.5%‚ the same as the Reserve Bank. For next year growth will be at 1.7% from 2%‚ and for 2017 2% from 2.4%.
World Bank lead economist for SA Catriona Purfield said at these growth rates‚ at least 14% of South Africans would remain in extreme poverty and unemployment would increase‚ given the threats to jobs in mining.