South Africa slips into its third recession since 1994

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South Africa slips into its third recession since 1994
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South Africa remains dogged by high and rising debt, low growth and soaring unemployment. SouthAfrica Recession Economy

South Africa slipped into recession in the final three months of 2019, the country’s statistics bureau said on Tuesday, the third contraction to hit the economy since the end of apartheid in 1994.

This took growth in Africa’s most industrialised country for all of 2019 to just 0.2 percent, its lowest reading since the global financial crisis in 2009.

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