South Africa will probably
miss this year’s economic growth target of 2.7 percent, with a five-month
mining strike hurting everything from government revenue to exports, Nhlanhla
Nene, its finance minister, said.
The economic outlook “has
moderated,” Nene told reporters Tuesday in the capital, Pretoria.
Recent forecasts by the IMF
and others show “the economy is not going to grow as fast as we had
anticipated,” he said.
Gross Domestic Product (GDP)
contracted an annualised 0.6 percent in the first three months of the year, as
mining output dropped 25 percent, the most in
