IMF trims SA's 2010 GDP forecast

Wednesday, December 08, 2010

The International Monetary Fund (IMF) has trimmed South Africa's growth forecast for this year to below 3% and expects expansion of 3,5% in 2011, African department division chief Abebe Aemro Selassie said on Friday.

"Our forecast six months ago was about 3 percent, with quarter three (third quarter) numbers coming in lower than we expected. I think some downside is possible with growth (now seen at) around 2,9 percent to 2,8 percent, a sliver below the 3%," he told Reuters in an interview.

South Africa's economy grew by a lower-than expected 2,6% in the third quarter, from a downwardly revised 2,8 percent in the second quarter.

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