Analysis by Region - Africa - South Africa
We reiterate our view of rising stagflation risks this round, with revisions to South Africa’s economic growth and inflation forecasts. Across the board sentiment is slowly souring, with the consensus forecast for South Africa real GDP growth in 2022 having come down to 1.9% most recently. We are less optimistic though and forecast real GDP to grow at a slower rate of 1.5%, while inflation is expected to average 5.9% in 2022.
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