| Krag-krisis ripple uit [boodskap #116181] |
Wed, 06 February 2008 13:51  |
Ferdi
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'SA could face recession'
Feb 06 2008 02:26 PM
Johannesburg - There is a "very real" risk that South African could
face an economic recession as a result of the current electricity
crisis, the SA Chamber of Commerce and Industry (Sacci) said on
Wednesday.
"We have already been going through an economic slowdown [the
electricity crisis] could push us into a recession," Sacci economist
Richard Downing said.
He said annual economic growth could slow down to as little as one or
two percent.
"It is apparent that the shortage of electricity does pose a severe
threat to the production capacity of goods and services, since
critical production time is lost due to electricity power shortages
during working hours.
Even if the loss in output could be limited to five percent to ten
percent of gross domestic product, it will be difficult to attain any
growth in the economy in 2008."
Downing said the effects of the electricity crisis had not been fully
captured in the current Business Confidence Index (BCI) for January
2008.
He said the effects would only be noticeable in the next three to four
months.
The BCI for January 2008 released by Sacci on Wednesday measured 93.8
--after it declined to 94.8 in December 2007.
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