However, much more needs to be done to sustainably raise growth in the Province of Possibilities. The Coega Development Corporation predicts that the province’s economy should perform better going forward, but it is expected to reach a rate of only 2,3 per cent by 20205. 5  The Eastern Cape socio-economic analysis and forecast 2016, A Coega Development Corporation Publication  3  3.
Themes that shaped the global economy in 2016  At the beginning of 2016, the International Monetary Fund (IMF) forecast that global economic activity would increase by 3,4 per cent for the year, with advanced economies projected to grow by 2,1 per cent and emerging market and developing economies (EMDEs) by 4,3 per cent.6 Fast-forward to a year later and the actual outcomes have been weaker, with the projection for 2016 global growth now lowered to 3,1 per cent, advanced economies downgraded to 1,6 per cent and EMDEs to 4,1 per cent.