The World Bank projects that South Africa's economic growth will remain weak.
A man is silhouetted against the logo of the World Bank at the main venue for the International Monetary Fund and World Bank annual meeting in Tokyo, File. REUTERS/Kim Kyung-HoonFILE PHOTO: A man is silhouetted against the logo of the World Bank at the main venue for the IMF and World Bank annual meeting in Tokyo
The Bank anticipates economic growth in Sub-Saharan Africa to slow down this year, compared to last year. Adding an increase to the wage bill amid weak growth and a decline in commodity export prices, which are causing the budget deficit to rise to 4.8% of GDP, this year. The Bank says low growth rates mean job opportunities are limited, making it challenging to create enough high-quality jobs to keep up with the rising number of people entering the workforce.
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