PwC chief economist Lullu Krugel said on Tuesday that the National Treasury’s growth forecasts could be revised slightly lower compared to the numbers in the 2019 Medium-Term Budget Policy Statement (MTBPS).
Krugel said PwC had forecast that the gross domestic product (GDP) would now grow by 0.4 percent in 2019, down from 0.5 percent forecast in October. She said the economy would slow down to 1 percent in 2020, down from 1.2 percent previously forecast.
“We are expecting the GDP to be slightly lower than what Treasury had forecast in the mid-term budget. Certainly load-shedding is one of the contributors to that,” Krugel said.
Statistics South Africa will release GDP figures for the fourth quarter 2019 early in March.