JOHANNESBURG - A new survey by Bloomberg says South Africa has a 45% chance of a recession this year as the country’s electricity crisis deepens.
Last year, the country was plunged into 200 days of power cuts, the most since rolling blackouts started back in 2007.
It says the risks of South Africa falling into a recession have been intensified by a lower global growth outlook.
The survey says the economy won't grow any more than 0.3% quarterly this year.
The grim economic outlook may force the South African Reserve Bank to continue its aggressive stance on interest rates.