11 January 2018

South Africa: World Bank Predicts Slight Uptick for SA, Though Growth Still Lagging

Photo: kev-shine/Flickr
(file photo).
analysis

"A modest recovery" in South Africa's economy for 2018 has been projected by the World Bank. However, policy uncertainty threatens growth in the long run - and South Africa still lags behind the rest of the region. By NKATEKO MABASA.

In its January edition of the Global Economic Prospect, the World Bank projects a 1.1% growth in the economy for this year, after the augmented rise from 0.6% to 0.8% for 2017. This was due to "activity strengthened more in the second half of the year," says the World Bank.

The cause of this growth, according to the Bank, is credited to the Agricultural sector's strong performance, "due to improved rainfall, which helped South Africa exit recession".

Statistics South Africa regarded this in a report released last November as "the largest quarterly jump in agriculture production since the second quarter of 1996" in which "increased production of field crops and horticultural products were the main contributors to growth, with notable increases in the production of maize and vegetable products".

However, this 1.1% growth is low compared to the Sub Saharan Africa's (SSA) projected trend of an average of 3.2% in 2018.

SSA region's growth rose to 2.4% in 2017 compared...

South Africa

Cape Farmers Look With Hope to the Skies as Heavy Rainfall Predicted

Some citrus and wheat farmers in the drought-stricken Western Cape say they are optimistic that winter will bring the… Read more »

Copyright © 2018 Daily Maverick. All rights reserved. Distributed by AllAfrica Global Media (allAfrica.com). To contact the copyright holder directly for corrections — or for permission to republish or make other authorized use of this material, click here.

AllAfrica publishes around 800 reports a day from more than 140 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.