Moody’s cuts SA growth forecast
Moody’s Investors Service, the only major ratings agency that still has SA in investment grade, has slashed its growth forecasts for the country, citing Eskom’s power cuts and lacklustre demand.
The agency, which has consistently flagged a weak economy and a lack of action to contain state spending as some of the key risks to SA’s rating, said the economy would grow just 0.7% in 2020, compared with a previous forecast of 1%.A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Times Select.
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