The near-term growth outlook for Africa's most industrialised economy has deteriorated, an IMF team said after a visit to the country.
"Real GDP growth is projected to decelerate sharply to 0.1 percent in 2023 mainly due to a significant increase in the intensity of power cuts, as well as the weaker commodity prices and external environment," it added. Gross Domestic Product contracted by 1.3 percent in the last three months of 2022, raising the possibility that the South African economy could enter a technical recession if activity contracts in the first quarter of this year.
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