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IMF slashes SA's growth outlook due to 'increasing' Transnet woes

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Photo: Getty Images
Photo: Getty Images

The International Monetary Fund (IMF) has sounded the alarm about the growing impact of the crisis at Transnet on the South African economy.

On Tuesday, it announced that it almost halved its forecast for South African economic growth this year - from 1.8% to only 1%.

This was due in most part to "increasing logistical constraints, including those in the transportation sector, on economic activity," the IMF said in its World Economic Outlook Update.

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