South Africa's economy grows by 0.4% in first quarter of 2023: Craig Pheiffer

South Africa's economy is facing significant risks. That's according to the National Treasury statement released yesterday. This is after Statistics South Africa showed that the country's Economic growth increased by 0.4% in the first quarter of 2023 (January to March) from a negative 1.1% in the fourth quarter of 2022. The figures also provide a comprehensive overview of how the economy performed in the first quarter of 2023, indicating that manufacturing and finances were the main drivers of economic growth. Electricity, gas and water registered their fourth consecutive quarter of decline, dampened by the weaker electricity production and lower water consumption. The International Monetary Fund says it expects government finances to worsen amid rolling blackouts and borrowing costs to increase, among other risks. To make sense of these real Gross Domestic Product figures and how they impact our country's economic outlook, we are joined virtually by Craig Pheiffer, Chief Investment Strategist at Sasfin Wealth. For more news, visit sabcnews.com and #SABCNews on all Social Media platforms.