As expected, Finance Minister Pravin Gordhan on Wednesday revised South Africa’s growth estimates down to 0.5 percent from the 0.9 percent forecast in February.
Tabling the medium-term budget policy statement, Gordhan said the economy would recover moderately over the next three years.
“Growth is expected to increase to 2.2 percent by 2019, supported by more reliable electricity supply, improved labour relations, low inflation, a recovery in business and consumer confidence, stabilising commodity prices and stronger global growth,” the minister said.
South Africa Today – South Africa News
