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S&P Cuts South Africa 2022 GDP Growth Est. to 1.9% From 2.4%

SOUTH AFRICA
  • Forecast lowered for 2022 because economic growth will likely decelerate as “most GDP components have reached pre-pandemic levels, while rising inflation will exert pressure on households’ real incomes
  • Higher inflation to push up household debt to disposable income, which had been stable at about 68%, by as much as 100bps
  • South African banks have low exposure to the Russia-Ukraine conflict among emerging markets, and are likely to suffer the smallest direct fallout from the crisis
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com

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