World Bank warns South Africa

World Bank warns South Africa is “flirting with recession”

Things aren’t looking great for the South African economy.

World Bank warns South Africa


World Bank cut South Africa’s growth forecast for this year to 0.8 percent on Tuesday and warned that the country is flirting with “stagnation, if not recession”.

Many factors are currently crippling Africa’s second-largest economy. According to Bloomberg, a slump in commodity prices, weakening demand from China and the worst drought in more than a century are all having an impact on the country’s growth.

The weakening rand has also had an income and as incomes fall as a result of slow growth, poverty will only rise.

Add this to your list of worries as electricity, DSTV and food prices continue to soar.