The International Monetary Fund is looking to cut its expectations of South Africa’s GDP growth this year, a senior official has hinted.
The new finance minister says the country is unlikely to meet a a growth target of 2.7% for the year given the protracted platinum strike.
Report downgrades the treasury’s economic growth forecast.
Increased labour unrest in the face of stubborn unemployment levels was a key risk to South Africa’s economic outlook according to the IMF.
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/ 9 September 2011
Business Unity South Africa has cut its economic growth forecast for 2011 from 3.4% to 3.1%, saying a cut in the repo rate could soon be necessary.