South Africa's economic growth is "certainly going to be below three percent" this year due to the impact of a slowdown in the eurozone economies, Finance Minister Pravin Gordhan said on Thursday.
"Europe is a factor. Europe as a whole is a major trading partner for South Africa, and for the last 12 to 15 months has had a major impact on our manufacturing industry and other export sectors as well," he said in a transcript of an interview with CNN in Davos.
The government's current official growth forecast is 3.1%. Gordhan will release updated forecasts at his February 22 Budget.