South Africa slipped into recession in the final three months of 2019, the country’s statistics bureau said on Tuesday, the second contraction to hit the economy in as many years.
It is the third recession the continent’s most industrialised economy has suffered since the end of apartheid in 1994, but the second since Cyril Ramaphosa came to power in 2018.
Ramaphosa’s government will barely avoid another bout of economic tumult with the economy forecast to only grow 0.9 percent this year. Growth has been stunted by, among other issues, rolling electricity blackouts that have cost the country hundreds of millions of dollars in lost output.
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