Standard Bank more upbeat about growth as businesses move to self-generation

At 1.3%, the lender’s forecast is a whole percentage point higher than the Reserve Bank’s

09 February 2023 – 19:24 Thuletho Zwane

Standard Bank is more optimistic than others about SA’s growth projections in 2023, citing improvements in global prospects over the past two months. Especially the reopening of China’s economy and initial signs of global disinflation have provided some cheer to the domestic economic outlook even as the government fails to curtail rolling blackouts.

At the bank’s 2023 economic session on Thursday, Standard Bank chief economist Goolam Ballim said domestic factors contributing to SA’s outlook include the move to self-generation by households and businesses, which may increase credit purchases and stoke aggregate demand, while improving productive capacity…

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