Economics
South Africa Heading for Lower-Middle-Income Status, Model Shows
- Eunomix says country deteriorating along a range of indicators
- Ruling party policies failed to ignite growth, Eunomix says
Shoppers walk through a market in Pretoria, South Africa.
Photographer: Waldo Swiegers/BloombergThis article is for subscribers only.
South Africa’s political and economic decline is accelerating and the country risks becoming a lower-middle-income nation by 2028, a model developed by Eunomix Business & Economics Ltd. shows.
The forecast, brought forward by two years from a 2020 assessment, highlights the failure of the ruling African National Congress’s policies to accelerate economic growth, the Johannesburg-based risk-advisory firm said in a report.