Ina Opperman
4 minute read
6 Jan 2022
3:39 pm

Economic rebound in SA expected to take a turn for the worse

Ina Opperman

While consumers are wondering what 2022 holds for them, the experts expect that the economic rebound will not last.

Image: iStock

South Africa's economic rebound is expected to lose momentum in 2022 from an average of 4.9% in 2021 to 2% in 2022 and 1.8% in 2023, while the dark cloud of unemployment will continue to take the shine off consumption spending. According to Momentum Investments’ market and economic outlook for 2022, milder global growth should soften the demand for SA’s exports. A moderate increase in rental inflation and reduced increases in medical aid tariffs are expected to drive an atypical response in local inflation, with headline inflation expected to average 4.5% in 2021, 4.6% this year and 4.3% in 2023....