South Africa: GDP Growth Up 1.6% – South African News Briefs – December 7, 2022

Cape Town —  

GDP Growth Up By 1.6% – Stats SA

The country’s economic performance between July and September 2022, shows that the agriculture, forestry and fishing industries performed the best, with a 19.2 % increase in the third quarter, according to figures released by Statistics South Africa. Finance, real estate and business services increased at a rate of 1.9%. The manufacturing industry whose output was bolstered by the automotive sector, food and beverages and metal products, was also a significant positive contributor.

Eskom Power Cuts Now at Stage 4

Eskom has announced that power cuts will be moved up to stage 4 today, kicking in at 9am until further notice.  Load shedding is being implemented due to a high number of breakdowns and the requirement to preserve the remaining emergency generation reserves while creating space to replenish the dam levels at the pumped storage schemes. Eskom spokesperson Sikonathi Mantshantsha said due to further breakdowns and delays in the return of generating units to service, stage four load shedding will be implemented from 9am.

Petrol Price Goes Up, Diesel Down

Motorists will have to fork out more for both grades of petrol from today at 59 cents a litre. Diesel will be going down by R1.57 per litre. The Mineral Resources and Energy Department has cited current local and international factors when determining the prices. These include the fact that South Africa imports crude oil and finished products at a price set at the international level, including shipping costs.


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