Economics
IMF Cuts South Africa 2016 Growth Forecast to 0.1% From 0.6%
- Economy not keeping up with population growth, IMF says
- Growth forecast not good news for ratings, BNP’s Schultz says
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The International Monetary Fund cut its forecast for economic growth in South Africa this year to 0.1 percent from 0.6 percent.
Gross domestic product in Africa’s most-industrialized economy will probably expand 1.1 percent in 2017, the Washington-based lender’s mission chief for South Africa, Laura Papi, and senior economist, Yi Wu, wrote in an opinion piece published in Johannesburg-based Business Day newspaper on Thursday. That will be the slowest rate of growth since a 2009 recession.