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Budget: Deloitte warns SA to prepare for 'short-term' pain iol.co.za - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from iol.co.za Daily Mail and Mail on Sunday newspapers.
Cost of living | Consumers positive about financial future enca.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from enca.com Daily Mail and Mail on Sunday newspapers.
The numbers don’t lie: Tito Mboweni must focus on the long game, experts say Stick to the long game: Hannah Marais In October, the medium-term budget policy statement painted a dire picture of the state of South Africa’s economy. Against the backdrop of multiple years of weak growth pre-Covid-19, rising unemployment, a sizable fiscal deficit and fast-expanding debt-to-gross-domestic-product ratio, the government will be forced to contend with severely limited budgetary space, and be unable to take the country out of its economic predicament through spending. The 2021 budget should not deviate from the proposed five-year fiscal consolidation plan. This includes balancing expenditure choices, such as reducing the public-sector wage bill. A significant deviation from the proposed consolidation path could upset markets, dent investor confidence and, at worst, place South Africa on a path towards a debt trap. ....