Image result for IMF lowers South Africa's 2019 economic growth forecastThe International Monetary Fund has lowered South Africa’s economic growth forecast for this year by 0.5% from 1.2% forecast in April to 0.7%, as global growth also slowed down.

IMF economist, Gita Gopinath, reiterated that global economy is in a synchronised slowdown

In the October World Economic Outlook, the IMF said growth in South Africa is expected to be weaker than projected in April, despite a moderate rebound in the second quarter.

The IMF outlook said this slow growth forecast followed a very weak first quarter, in which the economy slowed 3.2 percent.

The IMF also cut the global growth estimate to 3%, its weakest since 2009, as a result of global economic risks, rising debt levels and trade tensions.