The economic engines of the BRICS (that's South Africa added to Brazil, Russia, India and China) countries are slowing down a bit, according to analysts from Kiplinger. Of course, there is still growth expected in each of the countries.
(By the way, our latest BizVoice magazine features a story on international business but skips the BRIC contingent. South Africa is included in a much larger look at business prospects in all of Africa. Check it out online or in our interactive version).
Back to the BRICS, here's what Kiplinger has to say:
- Brazil: 2% growth this year and not much more in 2014, partially due to reduced exports to China and continued union protests
- Russia: About 2.5% this year, maybe 3.5% next. A $14 billion investment in infrastructure and small business lending will help, but hostile climate toward overseas capital is a long-term problem
- India: 5%, a drop from the 8% annual growth for much of the past decade. High inflation (10%) and decreases in investment and savings rates are troublesome
- China: 7% this year and slightly more in 2014. Wage increases will make it difficult to maintain massive government investment
- South Africa: 2%, a drop from 2.5% in 2012, with a similar outlook for 2014