South Africa to avoid recession but will not meet 2016 growth target - minister
South Africa is likely to avoid a recession in 2016 but will not achieve the 0.9 percent growth target set by the Treasury in February, Finance Minister Pravin Gordhan said on Tuesday.
Gordhan also warned that the economy, which is still trying to undo the inequalities resulting from its racially divided history, could no longer rely on austerity measures to reduce public debt.
Last week, the central bank said it now expected the economy to remain stagnant in 2016, compared with the 0.6 percent growth predicted in May. The International Monetary Fund has also slashed its own forecast, taking it down to 0.1 percent.
