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The energy crisis has significantly limited economic growth in South Africa thereby preventing the country from resolving high rates of unemployment. [ 27 ] [ 125 ] The power shortage is estimated to have reduced economic growth in 2021 by 3% thereby costing the country an estimated 350,000 potential new jobs for that year alone. [ 27 ]
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South Africa president Cyril Ramaphosa has said that the Johannesburg blaze that killed 74 people is “a wake up call” to address an inner-city housing crisis. “This is a great tragedy felt ...
Three people are killed and seven others are injured in clashes with security forces in Juba and Aweil, South Sudan, with three Sudanese-owned houses set on fire in Aweil. This comes after videos emerged allegedly showing Sudanese soldiers killing South Sudanese civilians in Wad Madani, Sudan. Business and economy
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20 March – South Africa prepares for a "nationwide shutdown" as the military is deployed ahead of protests by the Economic Freedom Fighters. [8] 2 June – In February 2023, South Africa experienced a cholera outbreak that grew from 2 initial cases to 99 confirmed cases in Tshwane over the following months. Jubilee Hospital reported 17 deaths ...
PPP largely removes the exchange rate problem, but has its own drawbacks; it does not reflect the value of economic output in international trade, and it also requires more estimation than nominal GDP. [4] On the whole, PPP per capita figures are more narrowly spread than nominal GDP per capita figures. [5]
The IMF projects global growth to remain around 3% over the next five years –– the lowest medium-term growth forecast since 1990 and well below the average of 3.8% from the past two decades.