South Africa: The ABCs for Mboweni's Budget Speech

press release

Finance Minister, Tito Mboweni will table the 2019/2020 financial year budget at a time of heightened anxiety about South Africa's economy. The numbers simply do not look good. Low growth projections, high unemployment (particularly amongst the youth), escalating inequality and a steady climb of debt-to-GDP with National Treasury worryingly forecasting this to reach almost 60% in 2023/24 - surely to trigger IMF and World Bank interventions.

The resultant consequence has been the regressive increase in debt servicing costs which now stands at R180 billion annually.

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