Moody's cuts SA's 2020 GDP growth forecast after coronavirus outbreak - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.

  • 📰 SABC News Online
  • ⏱ Reading Time:
  • 44 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 21%
  • Publisher: 51%

Canada News News

Canada Canada Latest News,Canada Canada Headlines

Ratings agency Moody’s on Friday cut its 2020 growth forecast for South Africa to 0.4% from 0.7%, one of several countries it saw as having lower growth prospects in a new report because of the coronavirus outbreak.

Moody’s is the last of the major international agencies to keep an investment grade rating on South Africa and is scheduled to review that assessment this month.

Ratings agency Moody’s on Friday cut its 2020 growth forecast for South Africa to 0.4% from 0.7%, one of several countries it saw as having lower growth prospects in a new report because of the“The global spread of the coronavirus is resulting in simultaneous supply and demand shocks,” Moody’s said in a global research report.

Moody’s is the last of the major international agencies to keep an investment grade rating on South Africa and is scheduled to review that assessment this month. “We expect these shocks to materially slow economic activity, particularly in the first half of this year. We have therefore revised our 2020 baseline growth forecasts for all G-20 economies.”Since the coronavirus outbreak began in the central Chinese city of Wuhan in December, it has infected almost 100,000 people worldwide and killed more than 3,000, mostly in China.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 32. in CA
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Ramaphosa is one useless fool

Hay siyaphela ngoku if Directionless was a person.....definitely it would be this Government.

Canada Canada Latest News, Canada Canada Headlines