South Africa’s economy shrinks by 1.2%, raising prospect of recession

“South Africa’s economy contracted by 1.2 percent in the first quarter of 2016, raising the prospect of a recession if growth for the current quarter comes in negative.

Gross domestic product (GDP) data from Statistics SA showed on Wednesday that the economy shrank 1.2% in the first quarter of 2016 compared with growth of 0.4% in the fourth quarter of 2015.

The Reserve Bank had expected the year-on-year figure to be “barely positive”‚ following year-on-year growth of just 0.5% in the final quarter of last year.”

Read the full article here.

south african economy

You might also like these articles:

Business Incentives:

Central Business District  
The following incentives are proposed:
  • 50% discount on building plan fees
  • 50% discount on Capital Contributions with the balance to be paid over two years
  • One-part pre-payment electricity tariff for new businesses locating in the above geographical area up to 60 amps indefinitely. In the case of connections exceeding 60 amps, the consumer will be refunded 50% of the transformer costs after a period of one year provided that the electricity consumption for the installation is not less than 1000kwh/month or 12000kwh/annum
  • Commercial refuse tariff up to a maximum of three refuse bags indefinitely
Mossdustria and N2 Industria  
The following incentives are proposed:
  • 50% discount on building plans
  • 50% discount on Capital Contributions with the balance to be paid over two years
  • One-part electricity tariff up to 60 amps indefinitely. In the case of connections exceeding 60 amps, the consumer will be refunded 50% of the transformer costs after a period of one year provided that the electricity consumption for the installation is not less than 1000kwh/month or 12000kwh/annum
  • Commercial refuse tariff up to a maximum of three refuse bags indefinitely
  • No sewerage service charges to be levied for the first year
Desirable Developments  
The following incentives are proposed:
  • 50% discount on building plans
  • 25% discount on Capital Contributions and the balance to be paid over two years
  • One-part electricity tariff up to 60 amps indefinitely. In the case of connections exceeding 60 amps, the consumer will be refunded 50% of the transformer costs after a period of one year provided that the electricity consumption for the installation is not less than 1000kwh/month or 12000kwh/annum
  • Commercial refuse tariff up to a maximum of three refuse bags indefinitely
  • No sewerage service charges to be levied for the first year

Featured Ad