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Vol 65 No 5

Published 29th February 2024

South Africa

Enoch pulls a rabbit out of his fedora

The ANC government is struggling to raise revenue and fund vote-winning social programmes ahead of elections in May

Sustained low growth is haunting the policy calculations of Finance Minister Enoch Godongwana, who presented his budget to parliament on 21 February. He conceded that revised 2023 GDP growth has been worse than expected, at 0.6%. South Africa's projected 2024 through 2026 average growth is just 1.6%, which only minimally expands per capita GDP and falls far short of levels required to boost the government's revenue-raising efforts.

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