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COVID-19 has exacerbated South Africa's growth, fiscal vulnerabilities: IMF
- "Reining in large fiscal deficits and debt will require containing public wage bill and avoiding ill-targeted subsidies and transfers to inefficient state-owned enterprises," the IMF said.
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JOHANNESBURG: The coronavirus pandemic has worsened South Africa's economic growth and fiscal vulnerabilities, the International Monetary Fund (IMF) said on Wednesday, adding that power cuts by state-owned utility Eskom will likely worsen the situation.
"Reining in large fiscal deficits and debt will require containing public wage bill and avoiding ill-targeted subsidies and transfers to inefficient state-owned enterprises," the IMF said in a statement.