Moody’s cut SA’s 2020 growth forecast
Written by Lethiwe Mdluli on 18 February, 2020
Economist, Dante Mashile, says South Africans may face tough times following ratings agency Moody’s decision to cut the country’s 2020 growth forecast.
According to Moody’s, the economy remains stuck in low gear due to lackluster domestic private sector demand.
Moody’s now expects the economy to grow at zero point 7 percent this year after saying in September that the economy would grow by 1.5 percent.
Mashile says the challenge is that the private sector has no confidence in the country.
By: Lindelani Mbatha