No good news for growth prospects as load-shedding drags down economy
Energy crisis hammers industries and will weigh on GDP
31 January 2023 - 05:00
SA’s economic activity probably stalled in the fourth quarter, with a high risk of contraction — and it will decline even more this year as the government fails to allay investor concerns over the electricity crisis, economists say.
The gloomy outlook from PwC, Investec and Nedbank comes days after the Reserve Bank slashed its 2023 forecast because of rolling power cuts, which threaten to trap SA in a prolonged period of stagnation and heap pressure on President Cyril Ramaphosa’s promises to reinvigorate the economy...
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