South Africa’s economy faced a turbulent 2024, marked by slow growth, high unemployment, and lingering structural challenges. While the formation of a Government of National Unity brought political stability and a stronger rand, economic contractions, drought-stricken agriculture, and inadequate education outcomes have stalled meaningful progress.
South Africa’s economy faced a turbulent 2024, marked by slow growth, high unemployment, and lingering structural challenges. While the formation of a Government of National Unity brought political stability and a stronger rand, economic contractions, drought-stricken agriculture, and inadequate education outcomes have stalled meaningful progress argues, Prof. Bonke Dumisa. Picture Zanele Zulu / Independent Newspapers.
The country had been hard-hit by an unending load-shedding by Eskom, which in turn was severely destroying the South African economy. Eskom has implemented no load-shedding since March 26 this year; which means we have already had over 250 load-shedding-free days in 2024 to date. According to the StatsSA report the very bad agricultural sector contraction was mainly due to the severe drought conditions and adverse weather conditions that our agricultural sector performed so badly. This was beyond the control of the South African government.
This partly helped in reducing the costs of buying international crude oil, hence the many fuel price cuts we have had in South Africa over the past six months.
Da Eskom Statistics South Africa National Treasury Jacob Zuma Cyril Ramaphosa Enoch Godongwana Economist Loadshedding Debt Gdp Nhi Elections Unemployed Basic Education Government Of National Unity Elections 2024
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