South African economy 2002-2008

Between 2002 and 2008, the South African economy experienced a period of robust growth, averaging around 5% annually. This growth was fueled by rising commodity prices, increased foreign investment, and a boom in domestic consumption. However, challenges such as rising inflation, high unemployment rates, and infrastructure deficits persisted. The global financial crisis in 2008 began to threaten this growth, leading to a recession in the following years.