Godongwana confident SA can avoid a recession this year

Siphelele Dludla siphelele.dludla@inl.co.za

FINANCE Minister Enoch Godongwana has pinned his hopes on the demand for commodity exports that might arise from China, possible growth in household consumption and a potential for an increase in investment to avoid an economic recession this year. This comes as Godongwana, while attending the International Monetary Fund (IMF) Spring Meetings in Washington DC last week, ruled out the possibility of a recession this year. “I rule out that possibility this year. We’re not going to record successive negative quarters. I don’t think that’s going to be possible,” Godongwana told Reuters. Godongwana’s laundry list of scenarios that can avert the looming catastrophe on South Africa’s economy, however, sounds like wishful thinking, considering that various forecasts see near zero growth this year. To make things worse, South Africa’s economy is…

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Sunday Independent (Digital) - 1 Issue, 2023-04-23

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