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MARKET UPDATE APRIL 2016
South African Market:
Politics continued to dominate the local news flow in April as ratings agencies and prominent global institutions alike warned that the current political crisis is a major risk to growth. Both the IMF and the World Bank downgraded South Africa’s growth forecasts for 2016 and 2017 respectively. The IMF is now forecasting SA’s economic growth for 2016 at 0.6% from 0.7% and at 1.2% from 1.8% for 2017.