Economics
South Africa Growth Could Pick Up Faster Than Expected, Reserve Bank Says
- Right reforms must be implemented, Reserve Bank says
- Inflation rate at the current level is ‘unusually low’
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South Africa’s economic growth could pick up faster than forecast if the right structural reforms are implemented, the Reserve Bank said.
That means the economy could expand faster than the 2 percent for 2020 the central bank projected last month, a rate it hasn’t exceeded since 2013. While last year’s 1.3 percent advance beat predictions, this doesn’t equate to a good performance, the Reserve Bank said in its six-monthly Monetary Policy Review released Tuesday in the capital, Pretoria.