SA is far from achieving its growth target - Gigaba
Finance Minister Malusi Gigaba has warned South Africa faces tough budget decisions this year as the country has entered its first recession since 2009.
JOHANNESBURG - Finance Minister Malusi Gigaba has warned that South Africa faces tough budget decisions this year as the country has entered its first recession since 2009.
He says going into the October medium budget, the country is far from achieving its growth target.
Gigaba was speaking at the Thomson Reuters Economists Awards at the JSE in Sandton on Thursday morning.
#TRawards Gigaba: Our economic growth is too low and too slow to address the current unemployment rate.TK
— EWN Reporter (@ewnreporter) July 13, 2017
He’s also due to give details on governments inclusive economic growth action plan.
“The economy has just entered into a recession after several years of slow growth. Lower than expected growth is likely this year which will put a strain on our fiscal framework.”
He says the country needs to urgently begin reducing poverty, unemployment and inequality.
#TRawards Gigaba: We need an economic discourse that seeks to protect the economy that exists. TK
— EWN Reporter (@ewnreporter) July 13, 2017
(Edited by Zamangwane Shange)
