The International Monetary Fund (IMF) has downgraded South Africa’s economic growth forecasts to 0.7% this year (from the October 2015 estimate of 1.3 %).
According to the IMF World Outlook report, this is largely driven by a decrease in global demand for commodities along with depressed commodity prices.
The IMF has also lowered its projection for South Africa’s 2017 growth, down from October 2015’s projection of 2.1% to 1.8%.
