SA’s growth shrank unexpectedly in first quarter with gloomy outlook forecast

By Edward West | Published Jun 5, 2024

Last year the economy grew 0. 6%, with the South African Reserve Bank estimating that load shedding shaved 1. 5% off GDP. This year the SARB believes the economy will grow 1. 2%, while the IMF has its forecast at 0. 9%, with the cost of load shedding estimated to fall to 0. 5%.