Business Leadership South Africa (BLSA) CEO Busi Mavuso warns that the country is facing a self-induced growth crisis due to the failure of the state. Despite narrowly avoiding a technical recession, South Africa's GDP growth remains low, with inadequate electricity supply and logistical constraints being major obstacles.
Business Leadership South Africa ( BLSA ) CEO Busi Mavuso says that the country is sitting in a self-induced growth crisis – thanks to the failure of the state, moving from one crisis to the next. Mavuso said that many in the government and elsewhere have given a positive response to South Africa ’s latest GDP growth figures – where the country narrowly avoided a technical recession by posting growth of 0.1% in the final quarter of 2023. Overall GDP growth for the year was 0.
6% – something unimaginable in a year hit by the worst levels of load shedding on record amid other crises in logistics and infrastructure. The BLSA lead noted that the main sentiment has been a more optimistic spin that “(GDP growth) could have been negative”. However, Mavuso said that the reality is that it has been negative: South Africa has spent the last decade in decline, with“Inadequate electricity supply and logistical constraints were the key obstacles to growt
South Africa Growth Crisis BLSA GDP Recession Electricity Supply Logistical Constraints
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