THE AFRICA TIMES | South Africa — Standard Bank Group’s chief economist has indicated that South Africa’s economy is progressing towards a sustained recovery. This recovery is driven by structural reforms and enhancements in governance, which are alleviating long-standing growth constraints.
Goolam Ballim projects Africa’s most industrialized economy to grow by 1.7% in 2027. This estimate surpasses the International Monetary Fund’s (IMF) latest projection of 1.3%. Additionally, he anticipates growth to accelerate to 2% in 2028, as reported by Bloomberg.
Economic Growth Factors
“We’ll continue to incrementally build toward escape velocity,” Ballim stated in an interview. He emphasized that strengthening institutional capacity will be crucial for achieving growth above 2%.
