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SARB Says Load-Shedding May Cost Up To ZAR899mn/Day

SOUTH AFRICA

South Africa's rolling blackouts may be costing the economy up to ZAR899mn/day, the SARB said in response to an inquiry by Bloomberg.

  • The central bank reportedly estimated the economic cost of power outages at ZAR204-899mn a day, depending on the extent of load-shedding.
  • The SARB recently lowered its 2023 GDP outlook to +0.3% Y/Y from +1.1%, citing the impact of intensified load-shedding, which is expected to shave 2pp off growth this year.

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