Fitch cuts South Africa growth forecasts on energy shortages

 Fitch has cut its 2015 and 2016 economic growth forecasts for South Africa due to ongoing energy supply constraints, an official at the ratings agency said on Thursday.

Fitch now forecasts Africa’s most developed economy to grow 2.1 percent this year and 2.3 percent next year, before ticking up to 3.1 percent in 2017 if electricity shortages ease, Fitch Managing Director Ed Parker said in a conference in Johannesburg.

REUTERS