Reuters —
A power crisis in South Africa will undermine investor confidence and crimp economic growth, outweighing the benefits from lower oil prices, a Reuters poll found on Thursday.
The poll of 33 economists taken in the past week predicted growth of 2.3 percent this year in Africa’s second-largest economy, down from 2.5 percent predicted one month ago due to expected power shortages from the state-run utility, Eskom.
A net oil importer, South Africa should in theory be one of the winners from tumbling prices. Rival Nigeria, Africa’s biggest economy, depends heavily on production of crude so its growth is expected to be heavily hit.
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