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JP Morgan now expects SA 2023 GDP decline on deeper power cuts

12th May 2023

By: Reuters

  

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JPMorgan in a research note on Friday said it now forecast a 0.2% decline in South Africa's 2023 gross domestic product (GDP) versus a previous forecast for 0.3% growth, citing expectations for deeper power cuts.

The bank added that prolonged power cuts above the current record level referred to as "Stage 6" would worsen its current account projection beyond an already pessimistic 3% forecast for this year.

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Edited by Reuters

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