South Africa's economy grows by 0.4% in first quarter of 2023: Craig Pheiffer

South Africa's economy is facing significant risks. That's according to the National Treasury statement released yesterday. This is after Statistics South Africa showed that the country's Economic growth increased by 0.4% in the first quarter of 2023 (January to March) from a negative 1.1% in the fourth quarter of 2022. The figures also provide a comprehensive overview of how the economy performed in the first quarter of 2023, indicating that manufacturing and finances were the main drivers of economic growth. Electricity, gas and water registered their fourth consecutive quarter of decline, dampened by the weaker electricity production and lower water consumption. The International Monetary Fund says it expects government finances to worsen amid rolling blackouts and borrowing costs to increase, among other risks. To make sense of these real Gross Domestic Product figures and how they impact our country's economic outlook, we are joined virtually by Craig Pheiffer, Chief Investment Strategist at Sasfin Wealth.
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[@gigi-vx8sy]

Its better than nothing I guess

[@mashesha4767]

😂😂😢 but government officials keep getting richer and richer think it’s time I took politics seriously

[@lisajansenvanvuuren2232]

Bantufication process running well😂

[@kwaziphungula]

Definitely better than racistification process of the past.😅

[@lisajansenvanvuuren2232]

@@kwaziphungula tell that to yourself when you are sitting in the dark with a candle

[@kwaziphungula]

​@@lisajansenvanvuuren2232 What you don't understand is that most of the country was in the dark prior 94. The person who introduced electricity to everyone was Mbeki. What we have right now is far better for an average South African. If you can't separate between Abantu and the ANC than you risk being on the same level with those who can't separate between the racists and DA. I am Zulu therefore part of the Abantu group and I can assure you that ANC processes are not part of any of our processes. They were designed by liberals before the ANC came into power and given to it. That is why almost all of the South African constitution authors were white liberals who made sure that they designed the constitution in a manner that will ensure that the ANC will spend all the country's resources on social spending which yields dependency, more poverty and a culture of corruption rather than spending them on education and infrastructure which produces growth. And as "useful idiots" the ANC fell for it. Hence our current state of affairs.

[@whitewitch2511]

​@lisajansenvanvuuren2232 Worry about your low birthrate

[@MandlaMarambe-ih2lz]

The solution is to change and develop Education system that means you have changed the economy of South Africa

[@LevisonChidziwe-mc4xt]

We should worry as Africans cause south Africa is the food of Africa without south Africa we will suffocate

[@favouredlee7835]

Other African countries are experiencing economic growth you need not to look far look at Botswana and Nambia

[@AutoriaGlobal]

DUB

[@staalburger9811]

Risks is not the word you should use about South Africa's economy. The right term would be theft by the anc government. Get to a Library to learn that phrase.

[@russianprincess3673]

SADLY SA HAS A VERY BLEAK FUTURE BECAUSE OF CORRUPTION. 🗺️ HOPE FOR PEACE ☮️☮️☮️☮️

[@leadersarmyediting]

I am happy 😊

[@sony5244]

It's shocking to know that South Africa economy is going down the drain.

[@skullandbones1832]

❤👍

[@troothhertz6297]

I say BS ..