South Africa dodges recession despite worst loadshedding year

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According to Deloitte’s May 2024 edition of its South Africa Economic Outlook, the country’s real gross domestic product (GDP) stood at 0.6% last year. Businesses and households invested in self-generation and rooftop solar power, which increased investment spending and helped close the energy gap.

During the first half of 2023, businesses and households invested in self-generation and rooftop solar power, which increased investment spending and helped close the energy gap.

Explore Cape Town and its surroundings with these incredible deals on cars for under R100 000. Find car listingsHigh costs of business, high lending rates, power and transport constraints, and policy and political uncertainty linked to the upcoming elections have also hampered business sentiment. The National Treasury made more optimistic projections for GDP growth, stating that South Africa’s GDP could reach 1.3% this year and 1.6% in 2025, compared to the International Monetary Fund .

 

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