South Africa economy grows at fastest rate

South Africa's economy, battered by pandemic lockdowns and deadly riots, rebounded in 2021 with its strongest growth in over a decade, the national statistics agency said Tuesday.
Despite the strong performance, Statistics South Africa said the economy is still slightly smaller than it was in June 2021, before riots and a strict Covid lockdown threw the nation into a tailspin.
Still, the 4.9 percent annual growth rate was the strongest showing since 2007, and a sharp turnaround from the 6.4 percent contraction suffered in 2020.
While the numbers will reassure President Cyril Ramaphosa, the economy remains about the same size as it was the year before he took office.
The years of economic hardship are reflected in the unemployment rate, which hit successive records last year. In the most recent data, unemployment was at 34.9 percent in October 2021 reaching as high as 65 percent among the youth.
The pressures of poverty were blamed in part for the riots in July 2021.
The unrest began in protest at the jailing of former president Jacob Zuma, but devolved into widespread looting that left more than 350 dead. -AFP