Malusi Gigaba warns that SA’s already-dismal growth forecast is at risk
National Treasury’s growth forecast of 1.3% for 2017 may be at risk, according to Finance Minister Malusi Gigaba. Speaking at the Tax Indaba in Sandton on Monday, Gigaba said he was sure positive growth would materialise in the coming quarters. However, he said growth was at risk of falling short of the forecast and that a revised outlook could be announced during the medium-term budget policy statement on October 25. In the February budget review, Treasury forecast that the economy would grow 1.3% in 2017, 2% in 2018 and 2.2% in 2019. Annual growth has weakened since 2011, which has hampered the government’s ability to reduce unemployment.
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