After two consecutive quarters of growth, real GDP decreased by 0.7% in the second quarter. The devastating floods in KwaZulu-Natal and load-shedding contributed to the decline, and right on cue, stage 2 load-shedding is back, which is thankfully not as damaging economically as stage 4 and above, but it shows that the risk remains for an already fragile national economy that had just recovered to pre-pandemic levels.
In real terms, SA’s economy is still slightly smaller than it was in 2019. To talk about this, Michael Avery is joined by Mamello Matikinca-Ngwenya, chief economist at FNB; Kevin Lings, chief economist at Stanlib; Izak Odendaal, investment strategist at Old Mutual Multi-Managers; and Busi Mavuso, CEO of Business Leadership SA.
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