India and China’s projected economic growth figures give hope to the South African economy, Finance Minister Tito Mboweni has said, but cautioned that the country’s public finances are “dangerously overstretched”. Delivering his budget speech in Parliament on Wednesday amid an economy ravaged by COVID-19 and the associated lockdowns, Mbowani said the damage caused by the pandemic runs deep, but “we are not without hope”. One of the reasons for this hope stems from a much improved economic outlook, he said.
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