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FinMin Sees Possibility of Downside Risks to 2024 Growth Forecast

SOUTH AFRICA

Comments from Finance Minister Godongwana crossing the wires (via RTRS):

  • South Africa will spend drawdowns from the Gold and Foreign Exchange Contingency Reserve Account (GFECRA) account on debt, not Eskom or Transnet.
  • Spending cuts, tax hikes possible in next budget after election.
  • "Possibility of downside risks" to 2024 growth forecast.
  • Recent droughts had no impact on food inflation.

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