LETTER: ANC is bent on destructive policies
There is little to suggest Cyril Ramaphosa’s administration will heed Tito Mboweni’s warnings
23 June 2020 - 16:30
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.”..
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