National Treasury slashes 2023 GDP projections to lowest levels since 2020
The electricity crisis will weigh on investment decisions and reduce profitability through lost production and increased operating costs
22 February 2023 - 14:20
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...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.