South Africa: African Development Bank Country Focus Report highlights urgent need for economic transformation as GDP growth remains subdued
you are currently viewing::South Africa: African Development Bank Country Focus Report highlights urgent need for economic transformation as GDP growth remains subduedJuly 4, 2025-African Development Bank calls for strategic reforms to unlock South Africa's $3 trillion capital potential
The report titled 'Making South Africa's Capital Work Better for its Development' comes amid global challenges, geopolitical tensions, conflicts, and political instability in several countries across the continent. The report highlights that South Africa's economic growth remains sluggish, with GDP declining to 0.6% in 2024 from 0.7% in 2023. It attributes this slowdown to persistent power outages, the severe impact of drought on agriculture, and weaknesses in the transport and logistics sectors. Source: afdb.org |
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