South Africa avoids technical recession despite challenges – Deloitte

With unemployment, loadshedding and a weak economy being front-line issues in the upcoming elections, the incoming administration must drive investment and reform to restart growth, build confidence and help South Africa’s economy meet its potential, says advisory firm Deloitte. In its May 2024 edition of the South African Economic Outlook, Deloitte notes that, despite recording the worst year of loadshedding so far in 2023, South Africa managed to avoid a technical recession, with real GDP growth at 0.6% last year.