Analysis by Region - Emerging Markets - South Africa


Attention: There is an updated edition available for this report.

Economic conditions are mixed and modest positive momentum remains the order of the day. We have left South Africa's 2025 real GDP growth forecast unchanged at 1.5%, more than double the 2024 estimate of 0.7%.


South Africa: Inflation is benign but economy not yet firing on all cylinders
Forecast overview
Recent developments
Short-term outlook
Key drivers of our short-term forecast
Economic risk
Economic risk evaluation
Risk warnings
What to watch out for
Exposure to key global risks
Long-term prospects
Background
Economic development
Structure of the economy
Balance of payments
Policy and politics

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