Fitch cuts South Africa growth forecasts on energy shortages - CNBC Africa

Fitch cuts South Africa growth forecasts on energy shortages

Southern Africa

by Reuters 0

Fitch has cut its 2015 and 2016 economic growth forecasts for South Africa. PHOTO: Getty Images

Fitch has cut its 2015 and 2016 economic growth forecasts for South Africa due to ongoing energy supply constraints, an official at the ratings agency said on Thursday.

Fitch now forecasts Africa's most developed economy to grow 2.1 per cent this year and 2.3 per cent next year, before ticking up to 3.1 per cent in 2017 if electricity shortages ease, Fitch Managing Director Ed Parker told a conference in Johannesburg.

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