Home Business and Technology World Bank cuts SA’s growth forecast

World Bank cuts SA’s growth forecast

World Bank

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.

World Bank

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. 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.

In other news – Demi-Leigh Nel-Peters is back in Mzansi

Demi-Leigh Nel-Peters has been based in the USA since winning Miss Universe in 2017, but she’s back in SA for a well-timed family visit. Judging from the pictures, she couldn’t be happier!

Demi-Leigh Nel-Peters

Despite living far away from home, the 24-year-old from Sedgefield in the Western Cape has made it a point to visit her family in South Africa as often as possible. Read more

Source: eNCA

Loading...

Are You Looking for a NEW JOB?

Are you looking for a job or maybe you are already working but want a new job? We have you covered on our Jobs Listings website. We post only genuine jobs and you can apply for free. See All Jobs Here