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IMF lowers growth forecasts for South Africa's economy

The International Monetary Fund (IMF) has lowered its growth forecasts for the South African economy in 2020 and 2021, citing Eskom's nationwide power cuts, structural constraints and deteriorating public finances for the move.

The IMF now sees the economy growing at 0.8% this year, down from the previous forecast for 1.1% growth, and 1.0% in 2021, down from an earlier prediction of 1.4% growth. Eskom's implementation of load shedding in recent months has negatively affected economic output and lowered investor confidence.

IMF lowers growth forecasts for South Africa's economy

[File Photo: AFP]

China Plus Published:2020-01-2117:55:29

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