IMF urges SA to launch reform plan to boost economy

International Monetary Fund said it anticipates that the subdued economic growth of 0.7%, projected by the authorities for 2017, is not likely to improve much in 2018.

Picture: EWN.

JOHANNESBURG - South Africa should implement reform to restore confidence in the economy soon, the International Monetary Fund (IMF) said on Wednesday, citing rising domestic political uncertainty and stalled reforms that signalled a challenging economic outlook.

“IMF staff anticipates that the subdued economic growth of 0.7%, projected by the authorities for 2017, is not likely to improve much in 2018,” the IMF said in a statement.

“Early announcement and timely implementation of a strong adjustment and reform plan is now a priority to restore investor and consumer confidence.”