‘2025 holds better economic prospects for South Africa’

Econometrix Director and Chief Economist Dr Azar Jammine believes the year 2025 holds better prospects for South Africa.

However, he says there are still downside risks that could hinder economic growth in the new year.

This follows the weakening of the Rand and the increase in petrol prices last month.

SA’s 2025 economic outlook: Dr Azar Jammine

Jammine forecasts that the economy will grow by 1.5 percent this year compared to the 0.5 percent growth in the previous year.

“The hope now for 2025 is that maybe we were too optimistic in believing that we would suddenly see a massive spurt of investment straight away, and that investment takes time to decide upon and that we may only see that happening in 2025.”

He adds: “And if that does happen, it’s possible that we could have an upside surprise to economic growth this year. The balance of risks is undoubtedly no longer just on the downside. There is a significant upside risk to our economic growth.”