Mashile Says The Latest GDP Is A Concern

By: Lindelani Mbatha

Economist Dante Mashile says its very depresing that the country’s economy is not growing at all.

On Tuesday, Statistics South Africa (Stats SA) released the latest GDP figures, highlighting that the country’s economy in the second quarter of 2022 was smaller than it was before the COVID-19 pandemic.

At least seven sectors shrunk in the second quarter of this year, with significant negative contributors to growth recorded in manufacturing, agriculture, trade and mining.

After two consecutive quarters of positive growth, the country has seen a plunge in its economic performance.

Mashile says the drag has been largely influenced by the decline in the productive sectors of the economy.

Mashile adds that, it is concerning that the agricultural sector has declined by 7%.