International rating agency Fitch on Thursday cut South Africa’s growth forecast to 2.1 percent in 2015 and 2.3 percent in 2016.
The agency attributed the development to worsening shortage of electricity supply that has gripped the country for half a year.
Fitch Managing Director Ed Parker told a conference in Johannesburg that if the electricity shortage eases, South Africa’s economic growth could rise to 3.1 percent in 2017.
South Africa has been experiencing the worse energy crisis since 2008 and due to the grave impact of the country’s electricity crisis on the GDP, the World Bank had expected South Africa’s GDP growth to …Read More
Source:: New Mail
