Central bank expects South Africa’s 2018 growth to be “much lower” than initial forecasts, here’s why

PUBLISHED: Wed, 15 Aug 2018 11:42:57 GMT

CAPE TOWN (Reuters) – South Africa’s economic growth this year will be “much lower” than initial expectations, the central bank said in a presentation to parliament on Wednesday, calling any recovery “weak and choppy”.

The South African Reserve Bank added that fixed investment was not expected to pick up meaningfully this year, while inflation risks remained on the upside.

Reporting by Wendell Roelf; Writing by Alexander Winning; Editing by Joe Brock

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