Pravin Gordhan calls for ‘right political context’ as Treasury slashes growth forecast
The Treasury has, as expected, revised its economic growth outlook for 2016 lower to 0.5% from 0.9% and that for 2017 to 1.3% from 1.7%. Growth is then expected to improve to 2% in 2018 and 2.2% in 2019. Economic growth will improve only if SA inspires "the right kind of political context, economic stability, policy certainty and the right collaborative and partnership approach", Finance Minister Pravin Gordhan told a media briefing before delivering his medium-term budget policy statement in Parliament on Wednesday. The slow pace of finalising policy interventions in areas such as land reform, immigration, labour relations, mining and communications undermined confidence, the Treasury said.
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.