South African economy facing growth constraints: finmin - CNBC Africa

South African economy facing growth constraints: finmin

Southern Africa

by Reuters 0

Nhlanhla Nene says South African economy facing growth constraints. PHOTO: GCIS

Volatility in capital flows and the foreign exchange rate were adding to South Africa's economic challenges and any progress to reverse a slowing economy will only be felt in the medium to long term, Finance Minister Nhlanhla Nene said on Wednesday.

“There is indeed no doubt that South Africa faces significant constraints to faster economic growth," he told parliament in response to questions.

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