World Bank cuts SA's growth forecast

Sfiso Buthelezi, a National Executive Committee member of the ANC, says economic growth shouldn't be the sole responsibility of the government.

JOHANNESBURG - The outlook for South Africa's economy is not about to improve, according to the World Bank.

In its latest Global Economic Prospects report, the World Bank cut its economic growth forecast for South Africa to below 1 percent for 2020 and its all thanks to Eskom.

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The World Bank now expects the economy to grow by a mere 0.9 percent this year.

This comes as Eskom has announced that Stage 2 load-shedding will continue until Friday morning.

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The power utility says it lost additional generating capacity overnight.

Eskom's emergency reserves are also insufficient to meet the demand for electricity during the day.

Source
eNCA