Gloomy 2023 GDP forecast as power cuts continue
Blackouts appear to be getting worse, more frequent and longer than previously expected
22 January 2023 - 18:45
The Bank of America has reduced SA’s economic growth forecast for 2023, a third revision in just two months, largely due to greater energy supply shortages that, the bank says, have worsened and become more binding than those of 2022.
Speaking at a virtual meeting last week, the bank’s economist for Sub-Saharan Africa, Tatonga Rusike, said the blackouts appear to be getting worse, more frequent and longer than previously expected...
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