South Africa Reacts to Faltering Growth Momentum

SOUTH AFRICA - Report 24 Jul 2013 by Iraj Abedian
An African National Congress (ANC) National Executive Committee (NEC) meeting resolved this week to set up a Presidential Task Team on the economy, with a view to arrest the faltering growth momentum. The South African economy has been bedeviled by the weak global economic environment as well as domestic structural bottlenecks that have contributed to a declining growth rate and worsening economic prospects. Following growth of 2.5% in 2012, the South African economy is forecast to grow by 2.0% in 2013. Given this backdrop, the ruling ANC has come to the realization that the time has come t...

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