SA’s growth forecasts are lowered further
JOHANNESBURG – As South Africa awaits the Moody’s credit rating decision, the agency yesterday lowered the country’s economic growth forecast further, charging that it expected it to deteriorate this year.
In its updated report on the annual sovereign outlook, Moody’s slashed South Africa’s 2020 growth forecast further to -0.6 percent from a -0.3 percent forecast in February.
Moody’s said that the corporate sector, investment and employment would be negatively impacted by the coronavirus (Covid-19) pandemic.
Source: iol.co.za
