Godongwana says growth has been forecast on the downside to 1.9% for 2022.
It notes that global growth has weakened, while borrowing costs are rising rapidly which does not bode well for South Africa’s rising R4.7 Trillion debt.He says, “This debt is incurring debt-service costs that will average R355.2 billion per year over the medium-term expenditure framework. As already outlined, the global economy is slowing, inflation is increasing, and financial markets are becoming more volatile. The result is that the debt-service costs are estimated to be R5.
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Thanks captain obvious. The july terrorists looting and burning spree, also didn’t help
What have they done thus far?