LETTER: ANC is bent on destructive policies
There is little to suggest Cyril Ramaphosa’s administration will heed Tito Mboweni’s warnings
Finance minister Tito Mboweni’s recent comments about the country’s fiscal situation ahead of this week’s supplementary budget are a stark warning about the disaster that awaits SA if it continues on its current course.
Calling on the country to “live within our means”, he said: “If we don’t do this, by 2024 this country will be in a situation where the debt-to-GDP ratio will be higher than the GDP of the country. In simple technical economic terms, that means we are going to be in a sovereign debt crisis.”..