World Bank has faith in South Africa

The World Bank has raised its economic growth forecast for South Africa this year to 1.4%, slightly higher than its June 2022 expectation, but lower than its January 2025 expectation.

- Ina Opperman

According to the World Bank's Global Economic Prospects, which gives an update on global economic developments, global prospects remain firmly tied to US President Donald Trump's America First agenda.

Familiar challenges continue to plague economies across sub-Saharan Africa, with the World Bank highlighting that economic growth remains insufficient to generate meaningful reductions in unemployment and poverty, says Brendon Verster, senior economist at Oxford Economics Africa.