LETTER: Interest bill just R630m a day
Letter writer’s calculations don’t add up
02 March 2020 - 14:45
Jean Michel Bouvier states that “we pay R25bn a day in interest to service debt” (Mboweni budget bonkers, February 28 (https://www.businesslive.co.za/bd/opinion/letters/2020-02-27-letter-mbowenis-budget-is-bonkers/)). This simply can’t be true. At that rate our annual interest bill would be R9.1-trillion, which is almost double our current GDP. The total interest bill for the coming year is estimated to be R230bn (check the Treasury website), equating to R630m per day.
Suhail Suleman, Claremont..
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