SA's collapsing economy

By Drum Digital
11 September 2015

It's a tough time for South Africa, is there a way out?

South Africa is hanging on by a thin economic thread.

Consumer confidence is low and many experts are worried that if our economy continues to weaken, we'll be in recession in just three months time.

Although we have not yet met the textbook definition of recession, which is two consecutive quarters of negative growth, recent data from Statistics South Africa paints a gloomy picture.

With warnings that the country is currently experiencing its worst drought since 992, a drop in the production of crops such as maize, sunflower, sugar cane and citrus subtropical fruits is likely to worsen the decline.

This means consumers must brace themselves for an increase in food prices.

Read more in the September 17 issue of DRUM

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