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World Bank cuts SA's growth forecast over load shedding - report

It now expects the economy to expand by 0.9% this year.

FILE: A clothing store in Claremont, Cape Town, in darkness as load shedding kicks in. Picture: Kaylynn Palm/EWN

JOHANNESBURG - The World Bank has cut its economic growth forecast for South Africa to below 1% for 2020 due to load shedding.

According to Fin24, it's the first key institution to cut its forecast due to electricity supply concerns.

It now expects the economy to expand by 0.9% this year.

Eskom announced on Thursday morning that stage two load shedding would continue until at least 6am on Friday.