The BankServAfrica Economic Transaction Index, which tracks South Africa’s interbank payments, climbed 3.9% in the second quarter from the first three months of the year, indicating that the nation’s economy will likely grow at a faster pace in Q2 2022 compared to previous forecasts. According to the country’s treasury department, debt is set to peak at 75.1% of GDP in 2024 and then gradually decline, while the budget shortfall is forecast at 4.2% of GDP in 2024.