IMF Trims South Africa Growth Forecasts

IMF Trims South Africa Growth Forecasts

The International Monetary Fund, IMF, has trimmed its economic growth forecasts for South Africa , saying that the economy would grow by 3.4 per cent this year.

In its latest World Economic Outlook, the IMF said Africa 's biggest economy would grow by 3.8 per cent in 2012.

Both forecasts were down by 0.1 percentage points from those given in October.

For the Years 2011, IMF's projection is in line with the South African Reserve Bank's expectation.

Reuters NAN/Margaret/Yinka