The latest World Bank Global Economic Prospects Report paints a dim picture for the financial years ahead. It says uncertainty around COVID-19, rising inflation and debt levels threaten the economic recovery of emerging markets. Global economic growth is expected to slow from 5 point 5 percent last year to 4.1% in 2022. The downward trend is also forecast for the following year at only 3.2%. On the one hand, persistent supply-chain bottlenecks are straining global trade while a commodity boom could help export reliant countries grow their economies.
IQ Business Chief Economist, Sifiso Skenjana, outlines what this means for the South African economy.
Tune into Newzroom Afrika, DSTV channel 405 for more details.