South Africa risks a second recession in consecutive years

South Africa’s economic growth prospects keep going from bad to worse. The International Monetary Fund is the latest key institution to slash its growth forecast for Africa’s most-industrialized economy, which may have fallen into its second recession in as many years. It now expects the economy to expand by 0.7% in 2019, half of what it estimated in January, and similar to forecasts by the South African Reserve Bank and Bloomberg Economics. The economy shrank the most in a decade in the first quarter of this year as the nation suffered the worst power outages since 2008. The National Treasury, which forecast growth of 1.5% in … Continue reading South Africa risks a second recession in consecutive years