Economic growth
- The property sector experienced a difficult Q3 of 2023 as share prices of listed property funds fell
- Numerous challenges faced, like loadshedding, high interest rates, rising operating costs (inclrates and taxes), poor municipal service delivery and low economic growth
- GDP growth is underperforming due to pressure on household spending, business investment & exports
- National Treasury is expecting economic growth of 0.9% in 2023 and 1.5% in 2024
SA Inflation at 6,2% for Q2, SARB targeted average 5,3%.
Higher than expected due to:
- Rand volatility
- Global inflation elevated
- Fuel Price impact on inflation
- Impact of load-shedding on supply chains
- Geopolitical events
- Logistics challenges
Loadshedding impact on the economy is negative
- Load-shedding has reached an average of Stage 4 in 2023
- Negatively affecting consumer confidence, retail spending, business investments, and international perceptions
- SARB estimates that load-shedding reduced economic growth by 1.4 % in 2022 and a further loss of 2% in 2023
- Businesses are seeing production downtime, increased supply chain costs, reduced operating hours, and increased security risks
Actions in response to the increased load-shedding by private households
