World Bank revises SAâs growth outlook 0.2% upwards for this year
By Siphelele Dludla
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THE WORLD Bank has revised South Africaâs 2021 growth outlook upwards by 0.2 percentage points as the continuing commodity supercycle is expected to benefit from the strong growth and demand in China.
In its June Global Economic Prospects report released yesterday, the World Bank said South Africaâs gross domestic product (GDP) would rise from a forecasted 3.3 percent to 3.5 percent.
The World Bankâs forecast comes as Statistics South Africa revealed yesterday that the economy failed to expand at a quicker pace in the first three months of this year. Headline GDP in South Africa rose by 1.1 percent in the first quarter of 2021, translating into an annualised growth rate 4.6 percent.
Bitcoin Falls, But MicroStrategy Buys; World Bank Says Recovery Will Be Uneven
On 6/9/21 at 3:01 PM EDT
CryptoCorner
Bitcoin has plunged as much as 50% from its record high, but MicroStrategy plans to increase its holdings in the cryptocurrency.
The Tysons Corner, Virginia-based analytics and business-intelligence company plans to offer $500 million in debt to acquire additional Bitcoin. We pursue two corporate strategies, the publicly traded company said in a note to investors: (First) grow our enterprise analytics software business to promote our vision of Intelligence Everywhere, and (second) acquire and hold Bitcoin, which we view as a dependable store of value supported by a robust, public, open-source architecture untethered to sovereign monetary policy.