South Africa’s economy recorded a greater than expected expansion in the Q2 2023 helped by growth in the agriculture and mining sectors. The economy expanded by 1.6% in year-on-year terms. South Africa’s economic growth has in the last decade lagged the 5.4% annual growth envisioned in the country’s 2030 national development plan, with the energy crisis partially to blame. The South African Reserve Bank expects growth to reach just 0.4%, with marginal increases over the medium term.

Source : CNBC Africa