LUKANYO MNYANDA: SA in no position to start splashing out
SA, with bond yields closer to 9%, cannot continue living beyond its means without eventually risking its market access
When it comes to finance minister Tito Mboweni’s budget speech this week opinion varies. Will it be the most important in SA’s democratic history or a pretty standard event that’s been overhyped?
In some sense the budget, or at least the numbers so much analysed in advance, will be the least interesting parts. We’ve had almost a year to digest the impact of Covid-19 on the country’s finances. And we know already that a number of events have conspired to make sure the numbers won’t be as terrible as we might have feared...