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South Africa's finmin Gigaba says to take tough choices to grow economy
April 3, 2017 / 10:38 AM / 7 months ago

South Africa's finmin Gigaba says to take tough choices to grow economy

PRETORIA, April 3 (Reuters) - South Africa’s new Finance Minister Malusi Gigaba said on Monday he would pursue “tough and unpopular choices” to oversee economic growth and a redistribution of wealth to the country’s black majority and help grow a flagging economy.

Africa’s most industrialised economy faces the risk of being downgraded to junk status owing to weak growth and the political upheavals after it got a reprieve last year. The economy grew by 0.3 percent in 2016 versus 1.3 percent in the previous year. (Reporting by Mfuneko Toyana; Editing by James Macharia)

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