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South Africa's weak growth a threat to government spending plan - Treasury
October 3, 2017 / 12:44 PM / in 20 days

South Africa's weak growth a threat to government spending plan - Treasury

CAPE TOWN, Oct 3 (Reuters) - South Africa’s plan to cut spending and borrow more to fund expenditure will be threatened by lower than previously forecast economic growth, the National Treasury said on Tuesday.

In a presentation to lawmakers, the Treasury, which faces a large revenue gap due to two quarters of contraction, said the likelihood of missing its forecast of 1.3 percent expansion in 2017 announced in February would threaten the affordability of its planned expenditure. (Reporting by Wendell Roelf; Writing by Mfuneko Toyana; Editing by James Macharia)

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