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SA likely to miss 1.5% growth target – finance minister

The actual deficit is probably much higher.

South Africa’s economic growth is unlikely to reach the treasury’s target of 1.5% in 2019 because conditions have changed and the country is facing increasing headwinds, Finance Minister Tito Mboweni said on Friday.

“The assumptions underlying the forecasts have clearly changed … the actual deficit now is probably much higher,” Mboweni said at a banking conference in Johannesburg.

He added that increasing calls for the treasury to bail out state firms, most recently power utility Eskom as well as state air carriers, was putting pressure on growth and spending.

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Where are the economic reforms that the government mention every time? Spineless government… You cannot please everybody. Hard decisions needs to me made!

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