SA economic growth could top 1% in 2023

SA economic growth could top 1% in 2024

Chief economist at Alexander Forbes, Mpho Molopyane, says the country’s economic growth is expected to be a bit higher than anticipated.  

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Image credit: iStock (AJ Paulsen)

Molopyane says they are expecting the Gross Domestic Product to grow by 1,2%, which is slightly higher than the 0,6%  that was estimated in 2023.


Molopyane briefed the media on the economic trends and investment themes for the year on Wednesday. 


She said the higher expected economic growth is mostly due to the easing in load shedding. 


"Though we do not have the final figures yet, we are expecting growth to be slightly higher this year.


"The improvement in growth is supported by easing load shedding intensity, increased self-generation capacity, as well as well as continued gradual improvement in investment.


"So remember as your soft generation capacity, such as solar panels, going off the grid, the whole drive to clean energy also contributes to investment.”


The country's economic growth declined by 0.2% in the third quarter of 2023.


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