IMF slashes SA’s GDP growth forecasts, spelling trouble for Ramaphosa
The fund highlighted strikes, energy supply issues and weak agricultural production, as reasons for cut
The International Monetary Fund (IMF) has slashed its growth forecast for SA for 2019 and 2020 spelling trouble for President Cyril Ramaphosa, who came to power on a ticket of reform and economic growth.
The fund cut its GDP growth forecasts to 0.7% for 2019 from 1.2% previously, and 1.1% for 2020 from 1.5%. This followed significant revisions in April brought about by policy and political uncertainty ahead of the elections.