Nedbank, one of SA’s four largest banks, is the latest to add its voice to growing concerns about the state of the country’s public finances, highlighting how acute power shortages, inefficient logistics networks and a higher wage bill continue to hinder the country’s fiscal position.
Reserve Bank governor Lesetja Kganyago has repeatedly warned that the deteriorating fiscal position threatens macroeconomic stability, with the rand likely to come under pressure as SA’s risk premium worsens. The situation is captured in the latest budget numbers that show a rapid deterioration in the fiscal position as revenue falls due to unfavourable global conditions and the harsh domestic environment...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.