SA economy could be reignited by rate cuts
JOHANNESBURG – Eskom
load shedding has put further pressure on the already strained South Africa economy after the utility intensified power cuts this week leaving the country at the mercy of the SA Reserve Bank (Sarb) to cut interest rates in order to reignite growth.
load shedding has put further pressure on the already strained South Africa economy after the utility intensified power cuts this week leaving the country at the mercy of the SA Reserve Bank (Sarb) to cut interest rates in order to reignite growth.
The rotational power cuts came as manufacturing output eased 2 percent in January while mining production fell 1.1 percent in the three months ended January.
The struggling power utility said load shedding would continue throughout the weekend. Economists have said that South Africa’s growth prospects would retrogress further as coronavirus has stalled global growth and hampered demand for domestic exports of goods and services.
Source: iol.co.za
