{"id":779570,"date":"2024-06-28T09:45:53","date_gmt":"2024-06-28T07:45:53","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=779570"},"modified":"2024-06-28T09:45:58","modified_gmt":"2024-06-28T07:45:58","slug":"how-to-save-the-economy-according-to-south-africas-top-ceos","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/business\/779570\/how-to-save-the-economy-according-to-south-africas-top-ceos\/","title":{"rendered":"How to save the economy – according to South Africa’s top CEOs"},"content":{"rendered":"\n

South Africa’s economy is ‘plodding along’, and the chief executives of some of the country’s biggest companies have examined ways to foster economic growth.<\/p>\n\n\n\n

According to Stats SA, South Africa’s GDP grew by 0.6% in 2023. <\/p>\n\n\n\n

Although the country avoided a technical recession (two-quarters of negative growth) in 2023, it still likely registered a per capita recession as GDP growth could not keep up with population growth. <\/p>\n\n\n\n

The start of the year did not start much better, with GDP decreasing by 0.1% in Q1 2024, down from marginal growth of 0.3% in the prior quarter. <\/p>\n\n\n

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South Africa’s economy is expected to improve in 2024, but it still has not shot the lights out. <\/p>\n\n\n\n

Bank of America economist Tatonga Rusike expects GDP to grow by 1.3% in 2024, while other economists and analysts expect around 1% growth this year. <\/p>\n\n\n\n

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Kick in the teeth for interest rate cuts in South Africa<\/a><\/blockquote>