Reserve Bank lowers forecast for damage blackouts will do to GDP
Central bank expects load-shedding to shave 0.6 percentage point from growth this year
24 April 2024 - 18:34
UPDATED 24 April 2024 - 23:20
Electricity minister Kgosientsho Ramokgopa earlier this week warned South Africans that despite an almost month-long reprieve from load-shedding, the dreaded rotational power cuts were likely to make a return in the coming months as the generation system continues to be unreliable.
However, the decrease in load-shedding during the first quarter of 2024, compared with the same period last year, has been sufficient for the SA Reserve Bank to revise its outlook in terms of the effects these power cuts will have on the country’s economic growth this year and in 2025...
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