South Africa cuts growth forecast, fuel levies to ease cost pressures

South Africa has lowered its 2026 economic growth forecast and cut fuel levies in an effort to reduce cost pressures on households and businesses. The government revised the growth projection downward, citing weaker-than-expected economic conditions. In response, it announced reductions to fuel levies—taxes added to the price of fuel—to help ease the financial burden on consumers. The moves signal growing concern over the country's economic outlook and rising living costs.