Sarb projects ‘sharp but incomplete initial recovery’
South African inflation forecast to rise on higher electricity and water prices
The South African Reserve Bank predicts a “sharp yet incomplete initial bounce-back” followed by a gradual rise in growth in its latest monetary policy review.
The Sarb forecasts the economy to grow by 4.8% in 2021, before falling back to 2.4% and 2.5% in 2022 and 2023 respectively.
The central bank said the pandemic, potential further lockdowns and delays in the country’s vaccination programme make these projections “more uncertain than usual”.
This forecast of a “wing-shaped” recovery
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