Supplementary Budget 2020
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Mini budget 2016: Hopes and prayers

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Treasury’s forecast for economic growth, which forms the basis of this week’s entire medium-term budget policy statement – known as the mini budget – has struck some analysts as being hopelessly overoptimistic.

The forecast for GDP growth this year was lowered from 0.9% to 0.5%. More importantly, it was projected to be 1.3% next year and 2% the year after that.

Early this month, the International Monetary Fund put South Africa’s economic growth this year at 0.1%. And, according to the organisation’s World Economic Outlook – a semi-annual compendium of forecasts – targeted growth will be 0.8% next year.

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