The International Monetary Fund has revised its growth outlook for South Africa upwards, which is good news the country that is battling the effects of COVID-19.
It’s revised its growth figures of 2.8% to 3.1% for this year.
The country is battling to recover from the effects of the COVID-19 lockdown with record unemployment. The IMF estimated global growth to expand by 6% this year.
It says this is due to accelerated vaccinations and a flood of government spending on ways to beat COVID-19.
Earlier forecasts saw a contraction of over 7% for this country last year with the hope that the economy can now bounce back.