South Africa’s economy is plunging into an abyss, and the recession looms on the doorstep of SA’s door.
This is the opinion of an expert in Pretoria following the extremely poor performance of the rand and the begging mentality of state-controlled companies.
The latest plea from the SA Airways, asking the ANC-regime for a R4 billion bailout, will put the country in a recession, if granted, and will force Moody to downgrade the country to junk status.
Economists warn that SA Airways will not rise from its financial difficulties even if a bailout is received, and will eventually have to be sold due to mismanagement by incompetent chief officers appointed.
-Read the original article in Afrikaans on Die Vryburger
This report does not necessarily reflects the opinion of SA-news.