The IMF has slashed its 2017 growth forecast for SA, bringing it in line with Reserve Bank and World Bank estimates. The revision comes ahead of the mid-term budget policy statement on October 25, which will be closely watched by credit ratings agencies. Finance Minister Malusi Gigaba is expected to cut the Treasury’s 1.3%, which was forecast in the budget earlier in 2017. After revising growth up to 1% from a previous 0.8% in its July World Economic Outlook, the IMF has now dropped its forecast for SA to 0.7%. In the September World Economic Outlook, the fund said: "In SA, growth is projected to remain subdued at 0.7% in 2017 and 1.1% in 2018, despite more favourable commodity export prices and strong agricultural production, as heightened political uncertainty saps consumer and business confidence." Nascence economist Xhanti Payi said: "The World Bank has already done the same, so it’s not unexpected. Everyone sees that we’re struggling with slow growth and weak investment, so thi...

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