The National Treasury slashed its economic growth projections for 2023 to the lowest level since 2020 when pandemic-induced lockdowns hindered production and caused severe disruptions to global supply chains, the Budget Review shows.

Presenting his budget speech in parliament on Wednesday, finance minister Enoch Godongwana said Treasury cut its 2023 growth projections to 0.9% but increased its 2022 growth projections to 2.5% from October’s medium-term budget policy statement’s 1.9% estimates...

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