How is south african economy

Structural challenges and weak growth have undermined progress in reducing poverty, which have been heightened by the COVID pandemic. The achievement of progress in household welfare is severely constrained by rising unemployment, which reached an unprecedented South Africa remains a dual economy with one of the highest, persistent inequality rates in the world, with a consumption expenditure Gini coefficient of 0.

High inequality is perpetuated by a legacy of exclusion and the nature of economic growth, which is not pro-poor and does not generate sufficient jobs. Inequality in wealth is even higher and intergenerational mobility is low meaning inequalities are passed down from generation to generation with little change over time.

The crisis has opened-up areas for reforms, which have been pending for years, as well as for addressing weaknesses undermining effective government. They are: promoting increased competition and improved business environment for sustainable growth; strengthening MSME and skills development to support job creation; and improving the infrastructure investment framework and selected infrastructure services.

Governance, gender and the digital economy will be cross-cutting themes. All six units of Medupi are now synchronized to the grid, and only Unit 1 remains to reach commercial operation CO , which has been delayed due to COVID containment measures.

The project has been restructured and extended to June to enable completion of an additional, battery storage, sub-component under the Renewable Energy component.

Zuma has unspecified surgery and remains in hospital with more operations planned days before corruption trial. Families of Black people killed in racial violence during unrest in Phoenix, South Africa are demanding justice. Zuma is facing 18 charges including corruption and money laundering and has pleaded not guilty to all the charges.

By Prinesha Naidoo Bloomberg. Published On 25 Aug Economic Forecast Summary May The economy is projected to rebound by 3. Access South Africa Projection Data. Reform Priorities April In unadjusted year-on-year terms, GDP jumped Statistics South Africa's sectoral breakdown showed the country's economic recovery from the pandemic remained uneven.

Transport and communication activity grew 6. But finance contracted 0.