Johannesburg – Despite the International Monetary Fund revising South Africa’s growth forecast to 0.1%, the situation is not so bad, suggested economist and senior industry analyst at FNB, Jason Muscat.

Delivering a press briefing in Rosebank on Wednesday Muscat explained that although there was general pessimism about the economy, things will not deteriorate going forward.

FNB lowered its growth forecast to 0.2%, a full percentage below Treasury’s forecast. “We are facing difficult times in the economy, but it’s not as bad as South Africans around the braai will tell you,” he said.