President Cyril Ramaphosa earlier this month said economic progress since the formation of the new coalition in June meant annual GDP growth could triple to three percent after ten years of less than one percent.
But in the government’s first half-year budget on Wednesday, the minister of finance, Mr. Enoch Godongwana, lowered the growth rate for this year to 1.1% from 1.3% that was set by the previous government in February. In the next three years, he said he expects GDP growth of 1.8 percent.
Here’s another from the FT.
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