Old Mutual still upbeat about SA in 2025, projects growth will average 2.5% to 3% over the medium term
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GUEST – Johann Els - Old Mutual chief economist
Johann Els’ key message in the mid-year outlook was that SA’s long-term growth trend is improving, albeit from a low base.
Following more than a decade of sluggish performance where the economy expanded by just 1.1% on average between 2009 and 2024 Old Mutual now projects growth will average 2.5% to 3% over the medium term, “on the back of significant private sector participation in the economy,” Els said.
Johann Els’ key message in the mid-year outlook was that SA’s long-term growth trend is improving, albeit from a low base.
Following more than a decade of sluggish performance where the economy expanded by just 1.1% on average between 2009 and 2024 Old Mutual now projects growth will average 2.5% to 3% over the medium term, “on the back of significant private sector participation in the economy,” Els said.