The National Treasury lowered its economic growth outlook for 2023 compared with the February budget, citing power cuts, deteriorating rail freight and slow port operations as well as slower growth in China as the main reasons for constrained growth.

Presenting the medium-term budget policy statement (MTBPS) in parliament on Wednesday, finance minister Enoch Godongwana said SA has become more vulnerable to external shocks, which makes major reforms critical and unavoidable...

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