Godongwana warns of intensifying risks to economy
War in Ukraine and China’s sluggish performance have ‘gravely’ affected assumptions made in the February budget
15 September 2022 - 13:56
Downside risks to SA’s economy are intensifying as a result of escalating geopolitical tensions and China’s sluggish economy along with the impact of floods in KwaZulu-Natal earlier this year, frequent power cuts, and rising inflation, finance minister Enoch Godongwana said.
The deepening war in Ukraine, including sanctions imposed on Russia for invading its western neighbour have “gravely impacted our assumptions [in the February budget] on the domestic outlook,” he said in a speech at the Government Employees Pension Fund annual conference in Cape Town...
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