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10 Jan 2019, Gergana Bencheva, EMIS Editor

South Africa’s economy to grow 1.3% in 2019 - World Bank

South Africa's economic growth will accelerate to 1.3% for 2019, Business Report said citing a forecast released by the World Bank.

In comparison, the country’s finance minister Tito Mboweni has voiced a projection for growth of 1.7% this year. South African Reserve Bank’s estimate is for 1.9%. The expected weak economy boost for 2019 was explained with South Africa’s constraints on domestic demand and limited government spending.

The World Bank underlined that emerging and developing economies should rebuild policy buffers and boost productivity to sustain growth. Its CEO, Kristalina Georgieva, also explained that emerging and developing economies’ per capita growth would be insufficient to narrow the income gap with advanced economies in 2019, Business Report noted.

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