Ratings agencies see SA’s growth rebounding above 1.5% over the next few years

International ratings agencies expect South Africa’s economic performance to strengthen steadily over the next few years, with projections showing GDP growth rebounding by more than 1.5% between 2026 and 2028.

S&P said that it expects South Africa’s real GDP growth to rise 1.1% this year after a subdued 0.5% in 2024 before averaging 1.5% over the period 2026-2028.

The agency said the recovery will be driven by ongoing reforms in electricity, logistics, and other network industries supporting growth.

However, S&P’s growth outlook for 2026 and 2027 of 1.2% in each year is more conservative than the National Treasury’s forecasts of 1.5% and 1.8%.

Source: IOL