SA not heading for recession - Nene

120514: (Deputy President Kgalema Motlanthe and Deputy Minister of Finance Nhlanhla Nene). Deputy President Kgalema Motlanthe meeting with the Inter-Ministerial Committe on Anti Poverty at the Union Buildings, Pretoria. South Africa. 20/03/2014.

120514: (Deputy President Kgalema Motlanthe and Deputy Minister of Finance Nhlanhla Nene). Deputy President Kgalema Motlanthe meeting with the Inter-Ministerial Committe on Anti Poverty at the Union Buildings, Pretoria. South Africa. 20/03/2014.

Published Jun 2, 2014

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SA not heading for recession – Nene

South Africa’s slowing economic growth caused by a four-month mining strike might undermine the government’s plan to narrow the budget deficit, Finance Minister Nhlanhla Nene said last week. “We are concerned about the growth rate,” Nene, who took office last week, said in an interview in Maputo on Thursday. “It does affect consolidation plans in the sense that you would perhaps see revenue slowing down a bit.” Nene, who was in Maputo to attend a conference hosted by the International Monetary Fund, said he did not think the economy was heading into recession. “Hopefully, we should level out and we will build from this base going forward,” he said. “We are confident that with the plans in place, we should be able to rebound.” – Bloomberg

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