South Africans face tough times

Economic growth in the first quarter is expected to have slowed mainly due to the electricity supply constraints.

Most economists have projected that gross domestic product (GDP) will decline sharply from 4.1% to 1.4% quarter-on-quarter.

On Tuesday, Statistics South Africa (Stats SA) will release the growth numbers and the country’s unemployment rate.

Economist at Sasfin Asset Managers, Liston Mentjies says the poor are already bearing the brunt of a weak economy.

“If you look on the road cars are running well, shopping malls are full, at restaurants you have to wait for a table. But for the majority of South Africans times are tough.”

  • P.W.B

    From a first world Afrikaner powerhouse on a 3rd world continent to a total dump.

    • hendrik1730 .

      Yep. Also called BEE.

      • P.W.B

        And I will have you know, Mmusi Maimane also supports AA & BEE.