CLAIRE BISSEKER: SA economy is a house aflame
Fiscal risk keeps rising, forcing the government to fight fires on all fronts. Weak growth, high contingent liabilities and unpaid bills pose the greatest dangers
The medium-term budget policy statement was bad enough. But the National Treasury’s fiscal risk statement, which was appended to it but largely ignored when it was released, shows just how much worse things could get.
It concludes that SA’s fiscal risk outlook has "deteriorated sharply" and that SA’s public finances are "highly vulnerable" — Treasury-speak for "Watch out, the house is on fire!"