South Africa's debt levels will surge during 2020 as the economy contracts over 7% in the face of the Covid-19 pandemic, said Finance Minister Tito Mboweni in his supplemental Budget speech on Wednesday, 24 June. But he vowed to avoid a sovereign debt crisis, which he pointedly warned was looming on the horizon.
Finance Minister Tito Mboweni looked sombre, even ashen, as he stood before the podium on live TV waiting for apparent technical glitches to get sorted just before he delivered his emergency Budget speech. Small wonder, given its contents.
...
AllAfrica Subscription Content
You must be an allAfrica.com subscriber for full access to certain content.
You have selected an article from the AllAfrica archive, which requires a subscription. You can subscribe by visiting our subscription page. Or for more information about becoming a subscriber, you can read our subscription and contribution overview.
For information about our premium subscription services:
You can also freely access - without a subscription - hundreds of today's top Africa stories and thousands of recent news articles from our home page »
Already a subscriber? Sign in for full access to article