Godongwana sets new inflation target at 3% with 1% tolerance band [SOUND]

# Finance minister Enoch Godongwana has announced a new inflation target of three-percent, with a one-point tolerance band. Delivering his fifth medium-term budget policy statement in Parliament, Godongwana forecasts the country’s economy will grow by 1.2 percent this year, more than double the growth seen last year, and expects average growth of 1.8-percent between 2026 and ’27. He says government debt will stabilise at 77.9- percent of gross domestic product, the first time since 2008: