The depth and damage wrought by state capture has proven to be worse than thought, says the Bank, with power supply being the tipping point
The Reserve Bank has warned that if load-shedding persists for the rest of the year, SA could see almost no growth for the year and more than 100,000 job losses.
“To take one highly visible example, the economy has less electricity than it had a decade ago despite massive Eskom investments in generating new capacity,” the Bank said, adding that this has blocked a stronger rebound in growth. “This would eliminate almost all growth for the year, which would be the worst output performance since 2009,” the Bank said.
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