SA’s Finance minister says the International Monetary Fund predicts a global growth slowdown

SA’s Finance minister Enoch Godongwana says the International Monetary Fund predicts a global growth slowdown. This affects South Africa due to its trade with China, declining commodity prices and potential higher United States interest rates. He attributes the weak medium-term outlook to power cuts, poor logistics sector performance, high inflation, rising borrowing costs and a challenging global environment. Delivering his medium-term budget policy statement in Parliament, Godongwana said gross domestic product growth is expected to be 0.8-percent this year, with an average of 1.4-percent from next year to 2026.