SA blackouts may cut growth close to zero, Reserve Bank says | Fin24
The wave of rolling blackouts that started in November and are among the worst the country has yet experienced could knock 1.1 percentage point off economic growth, the Reserve Bank said in its Monetary Policy Review released Wednesday in Pretoria, the capital.Expansion of close to zero would be the worst outcome since 2009, when former President Jacob Zuma came to power.
“It has become clearer, however, that the legacy of state capture of which load shedding is one symptom will constrain growth for a longer period,” the Reserve Bank said. “The damage done by state capture is worse than previously understood.”
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