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Assessing and promoting civil and minority rights in South Africa.

[Source: Business Day – Editorial.]

The finance minister has entirely failed to start managing expectations ahead of his October budget speech.

When Finance Minister Malusi Gigaba addressed economists at the Thomson Reuters economist of the year awards in mid-July, he noted that the economy had just entered recession.

“Lower-than-expected growth is likely this year, which will put strain on our fiscal framework. Going into the October medium-term budget policy statement, we will have some tough decisions to make,” he said.

Just how tough is something the minister has been remarkably shy about discussing, even though he has had much to say about the need to transform the economy.

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South Africa at a Glance
58 780 000 (mid 2019 estimate)
4.3% y/y in August 2019 (CPI) & +4.5 y/y in August 2019 (PPI)
3.1% q/q (2nd quarter of 2019)
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