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- Title
SOUTH AFRICA: 'Muted' Growth.
- Abstract
South Africa narrowly avoided a recession in the fourth quarter of 2023, with the economy growing by 0.1%. The mining industry and the transport, storage, and communication sector saw increases in output, helping to reverse a contraction in the previous quarter. However, overall economic growth was described as "muted" and the annual rate for 2023 was only 0.6%. The agriculture sector experienced a significant decline in output, with the poultry and livestock industry being particularly affected by disease outbreaks. The country is set to hold legislative elections in May, and polls suggest that the ruling African National Congress (ANC) could lose its parliamentary majority for the first time. The economy is expected to improve slightly in 2024, but recovery may not start until the second half of the year.
- Subjects
SOUTH Africa; AFRICAN National Congress; PLATINUM group; AFRICAN swine fever; FOOT &; mouth disease; WORLD hunger; POULTRY farms; INTERNATIONAL competition; FOOD prices
- Publication
Africa Research Bulletin: Economic, Financial & Technical Series, 2024, Vol 61, Issue 2, p24627A
- ISSN
2053-227X
- Publication type
Article
- DOI
10.1111/j.1467-6346.2024.11525.x