South Africa’s central bank suggests that the recent end to regular power outages could lead to improved economic growth and a reduction in inflation.
South Africa’s central bank suggests that the recent end to regular power outages could lead to improved economic growth and a reduction in inflation,The nation has seen 155 consecutive days of stable electricity supply, ending a period of severe load shedding that had stifled economic progress and driven up business costs.
Cassim expressed hope that the improved power situation could lead to a revision of economic forecasts. The country’s energy crisis, along with deteriorating infrastructure due to years of poor governance, has hindered economic growth. South Africa’s GDP has grown by less than 1% annually over the past decade, insufficient to address the high unemployment rate of 33.5%.
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