Weighing on the growth outlook, consumers are growing cautious as the country suffers through high debt, a record 26% unemployment rate and electricity shortages.
Inflation has been rising after a drought in the south pushed up food prices. Additionally, oil prices have been rebounding.
The economy would require many wide seeping structural reforms and infrastructure investments to help jump start the economy. However, the ruling African National Congress has been distracted with political infighting and scandals over misappropriated money.
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