https://sputnikglobe.com/20230307/south-africas-gdp-contracts-beyond-expectations-amid-electricity-crisis-1108151162.html
South Africa's GDP Contracts Beyond Expectations Amid Electricity Crisis
South Africa's GDP Contracts Beyond Expectations Amid Electricity Crisis
Sputnik International
South Africa's GDP contracted 1.3% in the fourth quarter of 2022 – more than the 0.4% contraction previously predicted by analysts – according to new data by state-run Statistics South Africa.
2023-03-07T15:11+0000
2023-03-07T15:11+0000
2023-03-07T15:11+0000
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South Africa's GDP contracted 1.3% in the fourth quarter of 2022 – more than the 0.4% contraction previously predicted by analysts – according to new data by state-run Statistics South Africa.The contraction comes against the background of electricity shortages which persist in the country after 15 years, with power cuts reaching unprecedented levels in recent months.The data also shows that seven of ten South African industries' output fell in the period from October to December 2022.South Africa's President Cyril Ramaphosa reshuffled his cabinet and established two new ministries on Monday, including the Ministry of Electricity which will have the task of resolving the country's electricity crisis.Likewise, South Africa is seeking to modernize its energy system by continuing its efforts to transition to green energy under the 2015 Paris climate agreement. Last month, a major private coal supplier to South Africa's state-owned power utility Eskom announced the future construction a 155-megawatt wind farm.
https://sputnikglobe.com/20230307/south-african-president-reshuffles-cabinet-picks-new-vp-ministers-1108138571.html
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south africa economy, economy contraction, electricity shortages
south africa economy, economy contraction, electricity shortages
South Africa's GDP Contracts Beyond Expectations Amid Electricity Crisis
South Africa saw lower economic output in the fourth quarter of 2022 amid an electricity crisis with rolling power cuts. The crisis has been persisting in the country since 2007. According to media, the country experienced 205 days of rolling blackouts. in 2022.
South Africa's GDP contracted 1.3% in the fourth quarter of 2022 – more than the 0.4% contraction previously predicted by analysts – according to new data by state-run Statistics South Africa.
The contraction comes against the background of electricity shortages which
persist in the country after 15 years, with power cuts reaching unprecedented levels in recent months.
The data also shows that seven of ten South African industries' output fell in the period from October to December 2022.
South Africa's President Cyril Ramaphosa reshuffled his cabinet and established two new ministries on Monday, including the Ministry of Electricity which will have the task of
resolving the country's electricity crisis.
"The primary task of the new minister will be to significantly reduce the severity and frequency of load shedding (rolling power cuts) as a matter of urgency," President Ramaphosa said. "To effectively oversee the electricity crisis response, the appointed minister will have political responsibility, authority and control over all critical aspects of the Energy Action Plan."
Likewise, South Africa is seeking to modernize its energy system by continuing its efforts to transition to green energy under the 2015 Paris climate agreement. Last month, a major private coal supplier to South Africa's state-owned power utility Eskom
announced the future construction a 155-megawatt wind farm.
