IMF predicts near zero growth for SA economy

JOHANNESBURG - The International Monetary Fund expects South Africa's economy to show almost no growth this year.

It projects a total growth of 0.1% for 2023, highlighting what it calls mounting economic and social challenges.

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A delegation from the international lender wrapped up a consultation in the country citing a significant increase in the intensity of power outages, and weaker commodity prices.

The IMF does not expect public debt to stabilise and recommends stronger fiscal measures by government.