Recession risk mounts if harsh power cuts persist
Economist warns second-quarter GDP could contract amid worst power cuts in more than two years
05 July 2022 - 05:10
SA’s economy risks falling into recession in 2022 as the worst power cuts in more than two years combine with weakening consumer confidence and demand and April’s devastating floods in KwaZulu-Natal to undermine its already fragile prospects, economists say.
Their comments on Monday came as SA entered a third week of rolling power cuts, which have frustrated society and businesses, which have at times been left without electricity for as long as six hours...
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