The latest GDP data shows an economy that has been mired in deep stagnation for more than a decade, was severely hit by the pandemic and has experienced an exceedingly weak recovery since then.

In rand terms, real GDP in the fourth quarter of 2023 reached R1.158-trillion — much the same as its pre-Covid peak of R1.150-trillion at the start of 2020. In other words, the economy is still roughly the same size as it was four years ago. Economic activity is still below pre-pandemic levels in six out of 10 sectors...

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