Recession and downgrade? Economists spell out risks that come with load shedding
25 March 2019
Economists have argued that the risks to the South African economy are so grim that the country is flirting with a fresh technical recession as well as a sovereign credit rating downgrade from the agencies that have spared the country time and time again. Subscribe to Fin24's newsletter here
Minister of Public Enterprises Pravin Gordhan and Eskom’s executive directors briefed South Africa on Tuesday to say that the load shedding crisis in the country showed no sign of letting up.
Fin24 reported that stages five and six of load shedding could soon be introduced to relieve grid pressure.
Meanwhile Eskom CEO Phakamani Hadebe told Eyewitness News on Tuesday that load shedding could continue for another six months. The rand has also since felt the weight of frequent load shedding.