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Analysis by Region - Emerging Markets - South Africa

Publisher Oxford Economics
Published Sep 15, 2025
Length 8 Pages
SKU # OFE20418407

Description

The stronger-than-expected bounce-back in Q2 GDP (largely technical) has led us to marginally lift our full-year 2025 growth forecast to 0.9% (previously: 0.8%), while we lowered next year's projection by 0.2 ppt to 1.1%. The loss of tariff-free access to the US will weigh on economic activity over the next 12 months.

Table of Contents

8 Pages
South Africa: No more rate cuts in 2025 despite benign inflation outlook
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
Alternative long-run scenarios
Background
Economic development
Structure of the economy
Balance of payments
Policy and politics

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