Moody's says South Africa's growth forecast 0.4pc

South African President Cyril Ramaphosa. [File]

Ratings agency Moody’s has cut its 2020 growth forecast for South Africa to 0.4 per cent from 0.7 per cent, one of several countries it saw as having lower growth prospects in a new report because of the coronavirus outbreak.

“The global spread of the coronavirus is resulting in simultaneous supply and demand shocks,” Moody’s said in a global research report.