World Bank slashes SA's growth forecast

The World Bank has lowered its expectation for economic growth in South Africa for this year and next. It cites lacklustre investor sentiment, and policy uncertainty. Courtesy #DStv403

JOHANNESBURG - The World Bank has cut South Africa's growth outlook for this year and the next.

In its latest Africa Pulse Report, the bank says it's done so because of the sharp slowdown in GDP growth.

Low investor sentiment and policy uncertainty were also considerations.

READ: SA's economy to grow to 1.3 percent in 2019: World Bank

Overall growth in Sub-Saharan Africa is projected to decrease.

The World Bank says trade tensions between China and the US, as well as slower global growth “are weighing on activity across the region”.

On the continent, increased drought and the higher cost of public borrowing are slowing growth.

Source
eNCA