Downward revisions to economic growth are no longer a concern as they’ve become common‚ the paper reported.

The International Monetary Fund (IMF) on Tuesday‚ like the World Bank a day earlier‚ cited electricity shortages as one of the biggest impediments to growth in the economy and has cut South Africa’s forecast to 2%.

The IMF announcement came as Eskom again implemented extensive load shedding on Tuesday‚ saying several generating units were out of service for maintenance.

The fund’s revisions reflected “more binding electricity supply constraints and a tighter fiscal stance in 2016 than previously expected”.

Comment with your Facebook

comments