Investec’s Annabel Bishop paints a more positive outlook for South Africa’s dire straits.
Investec chief economist Annabel Bishop says that a domestic recession is not expected in South Africa this year; however, increased load shedding could be a tipping point.
The economist said that the latest January consensus from Bloomberg also shows no recession in South Africa this year, but rather weak economic growth of 0.3% quarter-on-quarter, for the first three quarters of 2023, and 0.4% quarter-on-quarter for the final quarter of 2023. The government has arrived late to the party dealing with Eskom’s failings; however, recent pleas from South Africans across the board have lit a fire under various departments to do something.
Even though the IMF believes the global economy will dodge a recession, Managing Director Kristalina Georgieva still predicts that one-third of the world’s economies will slip into recession at some point in 2023, with the biggest impacts being felt in emerging and developing economies.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
South Africa: Power Cuts in South Africa Are Playing Havoc With the Country's Water SystemAnalysis - South Africans had to deal with the worst ever series of power cuts in 2022. All in all the country lost a record 205 days of electricity due to constant breakdowns at the coal-fired power plants run by Eskom, the state-owned electricity utility. The plants are old and have not been sufficiently maintained.
Read more »
South Africa: Non-Racial South Africa - Book Shows Debate On Nation Building Is Still Relevant TodayAnalysis - There has been much comment recently on the lack of representation of minorities in the leadership structures of South Africa's governing party, the African National Congress (ANC).
Read more »
South Africa: US, South Africa Launch Taskforce On Wildlife TraffickingSouth Africa and U.S. Treasury Secretary Janet Yellen announced plans Wednesday to form a task force that will combat the financing of wildlife trafficking.
Read more »
Contract Law and the ConstitutionHow the Constitution of South Africa impacts contracts between private people/companies in South Africa.
Read more »
Big changes for prepaid electricity in South AfricaMetros will be upgrading smart meter software this year among other big changes.
Read more »
South Africa is being punishedMarkets are not convinced by the government’s response to the load shedding crisis.
Read more »