In a statement issued at the end of discussions with South Africa, the IMF said the country’s recovery from the Covid-19 pandemic had been faster than expected, but its durability remains uncertain.Economic growth is projected at 1.9% in 2022 after an estimated 4.6% rebound in 2021, but it is seen easing to 1.4% in the medium term, the IMF said.
IMF directors commended the government for a strong policy response to the pandemic, but outlined a variety of areas requiring improvement. It said the looming budget on February 23 provides an opportunity for concrete measures to contain public sector wages, rationalise bailouts of state companies, streamline tax expenditure and better target education subsidies. – Reuters
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