World Bank cuts SA's growth forecast over load shedding - report

JOHANNESBURG - The World Bank has cut its economic growth forecast for South Africa to below 1% for 2020 due to load shedding.

According to Fin24, it's the first key institution to cut its forecast due to electricity supply concerns.

It now expects the economy to expand by 0.9% this year.

Eskom announced on Thursday morning that stage two load shedding would continue until at least 6am on Friday.


This article first appeared on EWN : World Bank cuts SA's growth forecast over load shedding - report


Recommended

by NEWSROOM AI
Read More
IN FULL: President Ramaphosa’s 2020 Sona

IN FULL: President Ramaphosa’s 2020 Sona

Read President Cyril Ramaphosa’s State of the Nation Address delivered on 13 February 2020.

Lesufi suspends Parktown Boys' High principal with immediate effect

Lesufi suspends Parktown Boys' High principal with immediate effect

Mpianzi drowned exactly a week ago while attending an orientation camp in the North West arranged by the school at the Nyati Bush and Riverbreak lodge.

'We're in hot pursuit,' says Mbalula after 308km/h speedster identified

'We're in hot pursuit,' says Mbalula after 308km/h speedster identified

The Road Traffic Management Corporation confirmed in a tweet that the speedster had been identified and called for him to turn himself over or they would come to him at his residence.

Two primary school pupils dead after truck crashes into wall

Two primary school pupils dead after truck crashes into wall

Officials said that a truck delivering food items at the school crashed into the wall.

Lesufi: Enock Mpianzi's death will be investigated

Lesufi: Enock Mpianzi's death will be investigated

Enock Mpianzi (13), a Parktown Boys' High learner, drowned during what has been described as a water activity in a river at a lodge while on a school camp on Wednesday.

Kganyago announces repo rate cut to 6.25%

Kganyago announces repo rate cut to 6.25%

The decision follows this week's Monetary Policy Committee meeting.

Popular articles
Rugby legend John Smit on how he does not drop the finance ball

Rugby legend John Smit on how he does not drop the finance ball

Rugby legend John Smit opens up about money and career changes.

‘Negotiation, your hottest currency’

‘Negotiation, your hottest currency’

You are just one deal away from turning your dreams into reality.

Stock Pick Monday - AngloGold, TenCent and Moderna

Stock Pick Monday - AngloGold, TenCent and Moderna

Moderna (a Nasdaq listed biotech company developing vaccines), AngloGold, and TenCent are on the menu tonight.

Sasol shares down almost seven per cent

Sasol shares down almost seven per cent

You could buy Sasol today at the same price as you could get it in 2006.

The JSE is a bumpy ride with serious ructions on world markets

The JSE is a bumpy ride with serious ructions on world markets

It started in Asia, went through Europe today, through Africa, we felt it in South Africa....and into the United States.

Justice ministry on a mission to put a stop to criminals repeating offences

Justice ministry on a mission to put a stop to criminals repeating offences

Questions have been raised in the wake of the murder of eight-year-old Tazne van Wyk.

'Soweto residents worried about electricity hike being granted'

'Soweto residents worried about electricity hike being granted'

EWN reporter Kgomotso Modise says the residents say if the tariff increase is granted they will not be able to make ends meet.

Outa lawyer accuses Dudu Myeni of being evasive in court, contradicting herself

Outa lawyer accuses Dudu Myeni of being evasive in court, contradicting herself

Eyewitness News reporter Edwin Ntshidi gives more details of Monday's proceedings.

SA doctor issued sick note to Thabane based on a telephone conversation - report

SA doctor issued sick note to Thabane based on a telephone conversation - report

It was reported last week that the Lesotho prime minister was receiving emergency medical attention in South Africa.

Police hunt for eight suspects after East Rand Mall robbery

Police hunt for eight suspects after East Rand Mall robbery

Eyewitness News reporter Ahmed Kajee says one person has been shot and Entrance 1 has been cordoned off.