While South Africa has successfully brought about 160 mW of renewable energy into the grid, this boost is too small to make a difference to the  2  BIS central bankers’ speeches  aggregate capacity. The National Treasury estimates that electricity shortages have cost the economy about half a percentage point of growth a year, with this figure possibly being higher in 2014.
the difference between actual and potential output. The negative output gap is expected to narrow gradually over the projection horizon, which is encouraging news. 1  ECB Staff Macroeconomic Projections for the Euro Area, September 2015. 2  Eurosystem Staff Macroeconomic Projections for the Euro Area, June 2015.