The SARB predicts 200 days of load shedding in 2024 despite the improved electricity generation outlook for South Africa.
The South African Reserve Bank projects 200 more days of load shedding in 2024, despite the absence of power cuts over the past few weeks.
Despite the good news, many experts, including Electricity Minister Kgosientsho Ramokgopa and those at the SARB, have warned that load shedding is likely to return. “We are still working on the reliability of these machines, and that’s why you can’t confidently say load-shedding is behind us. That would be a false claim, and it can’t be substantiated,” he said.
The Reserve Bank predicts that growth will slowly improve in the near and medium term as the electricity supply gradually increases. The SARB projects real GDP and potential growth to improve to 1.2% this year and rise to 1.6% by 2026.
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