Standard Bank cautiously optimistic on growth as SA works around load shedding | Business

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Standard Bank predicts a 1.3% economic growth for South Africa in 2023, anticipating a reduced impact of load shedding on the economy as more businesses install solar capacity. | News24_Business

and that the minister of finance will soon outline incentives that will help households and businesses rapidly install solar panels.

"Even though confidence in South Africa seems to be at pedestrian levels, the confidence tool is more or less at around 10-year levels," said Ballim, adding that the pessimism people feel in their individual capacity isn't showing in confidence statistics. "The levels of measured confidence seem to be better than perhaps the emotional state, the psyche of most South Africans," he added.Ballim said another factor that influenced Standard Bank's forecast was that globally, several developments are starting to provide an element of"cheer". About 80% of world economies are starting to see inflation growth numbers fall. China has ended its zero-Covid policy.

While Standard Bank still expects growth in developed economies to be slow, it anticipates more dynamic growth from emerging markets. While the bank doesn't anticipate SA's economic growth to match countries like India and other African economies, Ballim said it's still beneficial to SA that emerging markets are expected to stand out in 2023.

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_Business That's still a shocking performance for a developing country. In line with a 30 percent pass rate.

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