South Africa’s economic history for 2022 will be complex to explain with early highs and late lows.
Economists and researchers from Momentum have provided insights on the macroeconomic movements of South Africa over 2022.
Momentum added that the national freight rail’s poor performance had compounded supply-side constraints for businesses operating in and with South Africa. It has also added to overall costs, said the researchers. This resulted in an upward revision in headline inflation forecasts from 4.6% to 6.8% over the corresponding period.
“Unprecedented rescue packages for hard-hit sectors suffering the fallout from the pandemic aided a faster-than-anticipated rebound in 2021. Growth averaged 6.6% – the highest in a decade,” said Momentum.
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