After two consecutive quarters of positive growth, South Africa’s real gross domestic product decreased by 0,7% in the second quarter of 2022. Statistics South Africa says the devastating floods in KwaZulu-Natal and load shedding contributed to the decline, weakening an already fragile national economy that had just recovered to pre-pandemic levels. SA’s economy took almost two years to recover from the impact of COVID-19, with real GDP reaching pre-pandemic levels in Q1: 2022, which was short-lived.
