JP Morgan now expects S.Africa 2023 GDP decline on deeper power cuts

May 12 (Reuters) - JPMorgan in a research note on Friday said it now forecast a 0.2% decline in South Africa's 2023 gross domestic product versus a previous forecast for 0.3% growth, citing expectations for deeper power cuts.

The bank added that prolonged power cuts above the current record level referred to as "Stage 6" would worsen its current account projection beyond an already pessimistic 3% forecast for this year.

Reporting by Karin Strohecker; writing by Alexander Winning; editing by Jason Neely

Reuters

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JP Morgan now expects S.Africa 2023 GDP decline on deeper power cuts

By Reuters

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