IMF cuts SA's growth for 2023 to 0.1%

JOHANNESBURG - The International Monetary Fund (IMF) has slashed South Africa’s GDP growth for 2023 to just 0.1%.

This is revised from the IMF’s January forecast of 1.2%.

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The IMF says power cuts coupled with softer commodity prices have hampered South Africa’s economic growth.

The international lender says South Africa must implement reforms to boost private sector investment promote good governance and improve the efficiency of public spending to facilitate growth.