Covid-19 has exacerbated SA’s growth, fiscal vulnerabilities – IMF

The coronavirus pandemic has worsened South Africa’s economic growth and fiscal vulnerabilities, the International Monetary Fund (IMF) said on Wednesday, adding that power cuts by state-owned utility Eskom will likely worsen the situation.

“Reining in large fiscal deficits and debt will require containing public wage bill and avoiding ill-targeted subsidies and transfers to inefficient state-owned enterprises,” the IMF said in a statement.

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