Moody’s lowers SA growth forecast

File: Moody's now expects the economy to contract by 2.5 percent.

File: Moody's now expects the economy to contract by 2.5 percent.

AFP/Emmanuel Dunand

JOHANNESBURG - Ratings agency Moody's has revised the forecast from a 0.4 percent expansion. 

Moody's now expects the economy to contract by 2.5 percent.

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It is less severe than the -5.8 percent contraction forecast by the International Monetary Fund on Wednesday.

Moody's cites the impact of the coronavirus crisis and the related lockdown as reasons for the revision.

Source
eNCA