The economy of South Africa entered a period of recession in the second quarter

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The economy of South Africa in the second quarter fell by 0.7% compared to the previous quarter, when there was a decline in GDP by 2.6%, according to official data. The decline for two consecutive quarters indicates that the economy of South Africa entered the period of recession for the first time since 2009. According to analysts' forecasts, the GDP of South Africa was expected to grow by 0.6%. Compared to the same period last year, the country's economy grew by 0.4%, while experts had expected an increase of 1%. After the publication of these statistics on Tuesday at 12:40 Moscow time, the rate of the South African rand fell against the US dollar by 2.5% to 15.23 rand.

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