Which way will the economy go in the 2023? pwc_za's first South Africa Economic Outlook report reviews PwC current scenarios for five key macroeconomic variables. Here's what you need to know ~
The year started with many uncertainties – some old, some new – which could result in different macroeconomic scenarios playing out for South Africa during 2023.report for 2023, reviews PwC’s current scenarios for five key macroeconomic variables during 2023 as well as the short-term outlook for climate action.
Concern remains about the elevated level of price inflation, especially from a supply chain perspective. Growth was below potential in 2022 due to, mainly, ongoing load-shedding and is expected to continue to underperform in 2023 due to the expected regular implementation of rolling blackouts. On a positive note, behavioural change has seen the South African public adapt to and mitigate the impact of load-shedding. For example, in 2022, the country imported more than R5-billion worth of solar panels, up from around R4bn in the preceding year.
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