BRIAN KANTOR: Fiscal debt that runs up debt will cost SA dearly
Taxpayers will be on the hook this year for an interest bill of about R300bn compared with R57bn in 2008
10 November 2022 - 15:05
The national debt and the interest bill for SA taxpayers grew sharply after 2010 — national debt by as much as R200bn more a year before the Covid lockdowns and by well over R400bn in 2021.
This year taxpayers will be on the hook for an interest bill of the order of R300bn, compared with R57bn in 2008 while the national debt will approach R4-trillion, equivalent to 60% of GDP compared with a mere 18% ratio in 2008. This is a dangerous trend that has to be reversed...
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