SA could be Africa’s LARGEST economy

According to the International Monetary Fund (IMF), SA could soon become Africa’s largest economy in 2024. While Nigeria and Egypt are currently some of the largest economic forces, South Africa could soon overtake the continent on an economic front.

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The report projects that South Africa’s economy is on the rise, and might even be the largest in Africa by next year.

Can YOU believe it?

Here’s what the report has to say.

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SA COULD BECOME LARGER THAN EGYPT, NIGERIA

The International Monetary Fund (IMF) releases a regular report about the state of world economies.

The World Economic Outlook projects large-scale changes that might affect the world economy, and how monetary systems work in different parts of the world.

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According to the report, SA could dominate Nigeria and Egypt as the strongest on the continent for 2024.

If the report is correct, South Africa will be the strongest African economy.

SA ON THE RISE

The South African economy reported a recession back in 2019, but SA’s economy could well be on the rise, and about to make its impact on the global scale.

A growth of at least 1.4% is predicted for 2024, according to StatsSA.

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If these figures are accurate and combined with what is known from the IMF report, the SA economy could rise to make us the strongest in Africa next year.

WHAT IT COULD MEAN FOR CITIZENS

Reading the big numbers feels like it’s not going to have any impact on the day of a regular South African.

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However, a stronger economy for the country could mean a change in the cost of goods – and opportunities for those who want to start a business in the country.

A stronger economy could also mean that a larger budget gets allocated for state help and other essential services through the state.